Kosli Partners with FINOS to Enhance DevOps Standards in Financial Services
In a significant move to innovate the financial services sector, Kosli, recognized for its expertise in automated governance solutions for software delivery, has officially joined the Fintech Open Source Foundation (FINOS). This partnership is a pivotal step towards establishing industry-wide standards for DevOps controls and change management within financial institutions, who navigate the complexities of speed and regulatory compliance.
The financial industry is at a crossroads, balancing the urgent need for rapid innovation with strict regulatory demands and security protocols. As software delivery teams face increasing pressure to ensure compliance and implement security protocols, the absence of standard practices has become a major hurdle. Many organizations have developed their own internal solutions for governance, leading to inconsistency and a lack of reliability across the sector.
Kosli's collaboration with FINOS seeks to address these challenges by creating unified best practices for the software development lifecycle (SDLC) controls. This effort is crucial in ensuring that compliance and governance factors do not hinder innovation within financial services.
Financial institutions are currently confronting several issues regarding SDLC controls. The traditional methods, reliant on tickets, forms, and manual approvals, do not align with today's need for straightforward, automated software delivery methods. Kosli advocates for open, vendor-neutral solutions that promote transparency and efficiency while ensuring compliance remains seamless.
Some key focal points for Kosli's collaboration with FINOS include:
1. Leading Discussions on Standardization: Kosli will participate in discussions aimed at establishing consistent DevOps controls and change management practices.
2. Development of Open Source Frameworks: By creating automated compliance frameworks, Kosli aims to benefit all financial institutions in managing their SDLC effectively.
3. Best Practices Establishment: Kosli intends to outline best practices for implementing automated controls in contemporary software delivery pipelines.
4. Standardization of Audit Trails: A structured approach to audit trails and compliance documentation will be a priority to facilitate effortless compliance.
Looking forward, Kosli envisions a landscape where financial companies can employ community-driven standards and tools to integrate solid DevOps controls without compromising their agility. The collaborative aspects will involve creating standardized designs for controls, defining change management automation practices, and establishing a framework for quality audit trails and compliance documentation that keeps up with modern demands.
Mike Long, CEO of Kosli, expressed the importance of this partnership, stating, "Financial services organizations are under some of the most formidable compliance requirements globally. We believe that software delivery transparency is crucial and that it should mirror infrastructure deployment, complete with automated tracking of every change and evidence of compliance. The Controls Engineering approach we employ can fulfill these needs by embedding compliance into development workflows. Collaborating with FINOS resonates with our goals, aligning us with a community-minded vision for simpler, more efficient compliance."
Gabriele Columbro, Executive Director of FINOS, echoed similar sentiments, highlighting the value this partnership brings to the community, stating, "Welcoming Kosli enhances FINOS’ mission to encourage transparency in financial service technology, aiming for open and machine-readable security approaches. Kosli shares our vision to foster innovation, making compliance more accessible."
Kosli acknowledges that FINOS is already facilitating important dialogues within the community. In light of this, they invite other financial services organizations facing challenges related to DevOps controls, compliance automation, or change management to join the discussion. Together, they can create a more effective framework for the future.
Kosli specializes in automating SDLC controls, enabling financial institutions to maintain compliance and security while adopting the speed of DevOps. Through its platform, Kosli provides real-time insight into software delivery processes. More information can be found at their website, Kosli.com.
FINOS, on the other hand, is a nonprofit organization that champions the adoption of open source in the financial sector, offering a space for innovation and collaboration among major financial institutions, fintech startups, and tech consultancies to enhance business operations through shared projects. For more details or to get involved, visit the FINOS website.
The Challenge of Standardization in Financial Services
The financial industry is at a crossroads, balancing the urgent need for rapid innovation with strict regulatory demands and security protocols. As software delivery teams face increasing pressure to ensure compliance and implement security protocols, the absence of standard practices has become a major hurdle. Many organizations have developed their own internal solutions for governance, leading to inconsistency and a lack of reliability across the sector.
Kosli's collaboration with FINOS seeks to address these challenges by creating unified best practices for the software development lifecycle (SDLC) controls. This effort is crucial in ensuring that compliance and governance factors do not hinder innovation within financial services.
Improving Software Development Lifecycle Controls
Financial institutions are currently confronting several issues regarding SDLC controls. The traditional methods, reliant on tickets, forms, and manual approvals, do not align with today's need for straightforward, automated software delivery methods. Kosli advocates for open, vendor-neutral solutions that promote transparency and efficiency while ensuring compliance remains seamless.
Some key focal points for Kosli's collaboration with FINOS include:
1. Leading Discussions on Standardization: Kosli will participate in discussions aimed at establishing consistent DevOps controls and change management practices.
2. Development of Open Source Frameworks: By creating automated compliance frameworks, Kosli aims to benefit all financial institutions in managing their SDLC effectively.
3. Best Practices Establishment: Kosli intends to outline best practices for implementing automated controls in contemporary software delivery pipelines.
4. Standardization of Audit Trails: A structured approach to audit trails and compliance documentation will be a priority to facilitate effortless compliance.
Future Collaboration Focused on Robust Controls
Looking forward, Kosli envisions a landscape where financial companies can employ community-driven standards and tools to integrate solid DevOps controls without compromising their agility. The collaborative aspects will involve creating standardized designs for controls, defining change management automation practices, and establishing a framework for quality audit trails and compliance documentation that keeps up with modern demands.
Mike Long, CEO of Kosli, expressed the importance of this partnership, stating, "Financial services organizations are under some of the most formidable compliance requirements globally. We believe that software delivery transparency is crucial and that it should mirror infrastructure deployment, complete with automated tracking of every change and evidence of compliance. The Controls Engineering approach we employ can fulfill these needs by embedding compliance into development workflows. Collaborating with FINOS resonates with our goals, aligning us with a community-minded vision for simpler, more efficient compliance."
Gabriele Columbro, Executive Director of FINOS, echoed similar sentiments, highlighting the value this partnership brings to the community, stating, "Welcoming Kosli enhances FINOS’ mission to encourage transparency in financial service technology, aiming for open and machine-readable security approaches. Kosli shares our vision to foster innovation, making compliance more accessible."
Engage and Collaborate
Kosli acknowledges that FINOS is already facilitating important dialogues within the community. In light of this, they invite other financial services organizations facing challenges related to DevOps controls, compliance automation, or change management to join the discussion. Together, they can create a more effective framework for the future.
About Kosli and FINOS
Kosli specializes in automating SDLC controls, enabling financial institutions to maintain compliance and security while adopting the speed of DevOps. Through its platform, Kosli provides real-time insight into software delivery processes. More information can be found at their website, Kosli.com.
FINOS, on the other hand, is a nonprofit organization that champions the adoption of open source in the financial sector, offering a space for innovation and collaboration among major financial institutions, fintech startups, and tech consultancies to enhance business operations through shared projects. For more details or to get involved, visit the FINOS website.
Topics Financial Services & Investing）
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