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TechDogs-"FINOS Welcomes Microsoft As First Cloud Provider To Join Governing Board, Deepening Cross-Industry Open Source Collaboration In Financial Services"

Financial Management Solutions

FINOS Welcomes Microsoft As First Cloud Provider To Join Governing Board, Deepening Cross-Industry Open Source Collaboration In Financial Services

ACCESS Newswire
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Together with GitHub, Microsoft elevates its membership to Platinum to accelerate critical initiatives to foster compliant open source, cloud and AI adoption in financial services.

NEW YORK CITY, NY / ACCESS Newswire / June 4, 2025 / The Fintech Open Source Foundation (FINOS), part of the Linux Foundation, today announced that Microsoft is now a Platinum Member, expanding its leadership role within the FINOS community. This enhanced commitment builds on the longstanding participation of GitHub, one of FINOS' founding members and a supporter of the financial services open source community.

With this expanded engagement, Microsoft is the first cloud service provider joining the FINOS Governing Board, represented by Allison Nachtigal, Vice President, Azure Chief Product Officer, Customer & Field Experience. Together, Microsoft and GitHub will work to strengthen FINOS' mission to enable secure, standardized, and scalable open source innovation across the global financial sector.

"Cloud service providers are a critical partner to the financial industry digital transformation journey, even more in the era of Generative AI", said Madeleine Dassule, FINOS Chair and Executive Advisor. "As FINOS standards like FDC3, CDM and CCC become pervasive in financial services, their adoption and support across big tech are a win-win for every industry constituency"

GitHub's continued participation reflects its deep roots in supporting the financial services industry's growing open source maturity. Now, with Microsoft's elevated commitment, both organizations will help advance the collaborative development of open frameworks and foster deeper partnerships between technology providers and financial institutions to better address the complex regulatory and operational needs of modern finance.

"Cloud runs on open source, and open source will be indispensable to how AI will be developed and deployed in regulated industries like financial services," said Allison Nachtigal, Vice President, Azure Chief Product Officer, Customer & Field Experience, Microsoft. "We look forward to working with FINOS and its members to help accelerate secure, open collaboration on AI and cloud standards that support both innovation and compliance."

"Open source has become mission-critical in financial services, with GitHub at the center of how firms build, manage, and secure the software they depend on every day," said Philip Holleran, Field CTO, Americas, at GitHub. "We have supported FINOS' mission since its inception, and we're excited to continue contributing to this organization as open source is now a first-class citizen in the industry."

Through their active participation, Microsoft and GitHub will contribute to key FINOS initiatives, including the AI Governance Framework (AIGF) and Common Cloud Controls (CCC).

About FINOS

FINOS (The Fintech Open Source Foundation) is a nonprofit whose mission is to foster the adoption of open source software, standards, and collaborative development practices in financial services. As part of the Linux Foundation, FINOS provides a regulatory-compliant platform for developers from competing organizations to collaborate on innovative projects that transform business operations. With over 100 members spanning major financial institutions, fintechs, and technology consultancies, FINOS is at the forefront of driving open source innovation in finance. Get involved and join FINOS as a Member. To stay up to date on FINOS news, events, podcasts, blogs, and more, sign up here.

Learn more at www.finos.org.

Media Contact:
Patrick Doherty
patrick.doherty@finos.org
+1 (206) 245-8574

SOURCE: FINOS / The Linux Foundation

View the original press release on ACCESS Newswire

Frequently Asked Questions

What is FINOS?

FINOS (The Fintech Open Source Foundation) fosters open source software, standards, and collaboration in financial services.

Why is Microsoft increasing its involvement with FINOS?

Microsoft is the first cloud service provider joining the FINOS Governing Board, represented by Allison Nachtigal, Vice President, Azure Chief Product Officer, Customer & Field Experience. Together, Microsoft and GitHub will work to strengthen FINOS' mission to enable secure, standardized, and scalable open source innovation across the global financial sector.

What initiatives will Microsoft and GitHub be involved in?

Microsoft and GitHub will contribute to key FINOS initiatives, including the AI Governance Framework (AIGF) and Common Cloud Controls (CCC).

First published on Thu, Jun 5, 2025

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Tags:

FINOS Fintech Open Source Foundation Microsoft GitHub Financial Services Open Source Cloud AI AI Governance Common Cloud Controls FDC3 CDM CCC

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