Symphony Software Foundation, the non-profit organisation focused on contributing to larger open source ecosystem, has announced an open developer platform. The new platform will offer open development access to the Symphony APIs as well as various development tools and lifecycle to enable community contributions.
Executive Director Gabriele Columbro of Symphony Software Foundation revealed that Symphony Software Foundation has a vision of fueling one of the biggest cloud and big data revolutions.
“It is no longer about choosing between proprietary or open source. It is about selecting the best open source platform and to engage your community. While the financial services industry is behind the open source adoption curve, the digital revolution continues to pull financial institutions into the next century,” said Columbro in an announcement statement.
Reduce barrier for collaboration
CIOs believe that the latest development would reduce the barrier for financial institutions to collaborate on the Symphony platform and enable open and interoperable APIs in the emerging world of fintech.
“We very much welcome the offering which strongly re-affirms how open and interoperable APIs are the key drivers for innovation in fintech,” said Suresh Kumar, CIO of BNY Mellon, who is a platinum member of the Foundation and member of the open developer programme.
Palo Alto, California-based Symphony Software Foundation was built to challenge Bloomberg and Reuters a few years back. The company is closely working with key industry members like BNY Mellon, Citadel, Morgan Stanley, JP Morgan, Citi, Credit Suisse, Goldman Sachs and Wells Fargo. Recently, HTML5 runtime provider OpenFin joined Symphony’s ecosystem. The company itself, on the other hand, is working with Markit to promote a Collaboration-Platform-as-a-Service (CPaaS) in the financial industry and enable rich collaboration throughout the sectors.
The substantial offerings by Symphony are likely to help in the creation and mass adoption of open source components through its partners and customers. The open developer platform already hosts concrete open source development, apps, bots and their integration on Symphony platform.