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Kosli Partners with FINOS to Enhance DevOps Controls in Finance Sector

On February 6, 2025, Kosli, a prominent provider of automated governance solutions in software delivery, announced its partnership with the Fintech Open Source Foundation (FINOS). This collaboration aims to revolutionize DevOps controls and change management practices within the financial services sector. As a nonprofit initiative under the Linux Foundation, FINOS focuses on advocating the use of open source software and collaborative development standards in an industry characterized by strict compliance and security requirements.

A Commitment to Standardization in Financial Services

The financial services landscape is fraught with challenges that stem from balancing rapid technological advancements with stringent regulatory compliance. These challenges significantly affect software delivery teams, which are tasked with ensuring security and compliance as changes are rolled out to production environments. Despite the proliferation of internal solutions within organizations to create governance controls, a prominent lack of industry-wide standardization has resulted in inconsistencies and uncertainties that hinder progress.

By joining forces with FINOS, Kosli aspires to work alongside industry leaders to develop common best practices for Software Delivery Lifecycle (SDLC) controls. This goal is vital to ensuring that compliance and governance remain enablers of innovation rather than their bottlenecks.

Addressing Current Challenges in SDLC Controls

Financial institutions today face pressing questions regarding the effectiveness and applicability of traditional SDLC controls. Outdated change management procedures, reliant on manual approvals and cumbersome paperwork, are ill-suited for the rapid pace of modern software delivery. Kosli posits that the key to overcoming these obstacles lies in adopting open, vendor-neutral solutions that enable greater transparency and continuous compliance in operations.

Kosli’s collaboration with FINOS will center on several fronts:

• - Facilitating discussions on the standardization of DevOps controls and change management principles.
• - Contributing to the development of open-source frameworks designed to automate compliance for all financial institutions.
• - Establishing best practices for the incorporation of automated controls into contemporary software delivery pipelines.
• - Creating standardized methods for audit trails and compliance documentation, which are essential for regulatory adherence.

Envisioning Future SDLC Design Patterns

Kosli foresees a future in which financial organizations can leverage community-informed standards and tools to enact strong DevOps controls while maintaining the agility necessary for fast-paced development. The core collaborative areas include:

• - Formulating standardized “design patterns” for effective automated controls.
• - Establishing best practices for the automation of change management processes.
• - Crafting shared specifications for audit trails and compliance documentation.
• - Delivering reference implementations that showcase best practices in real-world applications.

In making this announcement, Mike Long, CEO of Kosli, expressed the company's strategic alignment with FINOS, stating that financial entities operate under some of the world's most demanding compliance frameworks. He emphasized that accomplishing software deliveries should be as streamlined and transparent as deploying infrastructure solutions. According to Long, integrating compliance directly into development practices could make this streamlined approach viable.

Gabriele Columbro, Executive Director of FINOS, shared enthusiasm about Kosli's involvement, proclaiming, “We are excited to welcome Kosli to the FINOS community. The financial sector understands the importance of standardized, open, and machine-readable approaches to security, like our Common Cloud Controls project.” Columbro further articulated that Kosli’s extensive expertise aligns seamlessly with FINOS’s mission to propel collaboration and innovation within financial technology.

Join the Discourse

Kosli acknowledges that discussions surrounding these topics are already underway within FINOS, and the company is keen to share its expertise and insights. It invites other financial institutions grappling with challenges like DevOps controls, compliance automation, or change management to partake in these crucial conversations.

In conclusion, Kosli’s partnership with FINOS represents a significant stride in the continuous evolution of software delivery within the financial services industry. As the sector gears up for more collaborative and open approaches to governance and compliance, Kosli promises to deliver solutions that uphold both rigorous security mandates and the fast-paced demands of modern software development. For further details, visit Kosli's official site.