Symphony Software Foundation Adds OpenFin as Latest Member Group

Symphony Software Foundation, a nonprofit organization that has helped push open innovation via its secure messaging platform solutions, has added OpenFin as its latest Foundation Member, joining the ranks of other companies in the FinServ space.

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OpenFin is a provider of HTML5 runtime technology – the collaboration between the two venues will help enable OpenFin and other member organizations to push Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term standardization, whereby contributing to the Symphony platform. Overall, the primary impetus behind the organization is to foster the adoption of open source technology within financial services.

At the present, the Symphony messaging platform has gained momentum in the fintech space, following its adoption by multiple companies in the industry. Symphony’s solutions help provide secure, Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term-based communications to a multitude of different markets and individuals.

Group Focus

OpenFin will aim to influence and focus on the overall product direction of the Symphony platform, whilst operating in the framework of the foundation’s Open Governance model. In addition, OpenFin will help instigate container standardization and application interoperability for the financial industry, per a recent Symphony report.

According to Mazy Dar, CEO at OpenFin, in a recent statement on the collaboration, “We believe strongly in an open platform for communications within the financial industry. OpenFin joining the Symphony Software Foundation is a testament to our effort in helping the industry drive fintech standardization.”

“Our customers include many Symphony investors and Foundation Members, of which many have expressed interest in an integration between OpenFin and Symphony. Our direct participation in the Foundation will facilitate this collaboration and enable us to contribute to its efforts to build a thriving open source foundation," he added.

"OpenFin provides an open, innovative, secure HTML5 container that is highly complementary to the core Symphony messaging platform and widely adopted by our Members," reiterated Gabriele Columbro, Executive Director at the Symphony Software Foundation, in an accompanying statement.