Kosli Collaborates with FINOS for Software Innovation
Kosli, a premier provider of automated governance solutions tailored for software delivery, is excited to announce its partnership with the Fintech Open Source Foundation (FINOS), which is dedicated to promoting the adoption of open-source software in the financial services sector.
This collaboration emphasizes Kosli's dedication to enhancing industry standards in banking and finance, particularly in DevOps controls and change management.
Enhancing Standardization in Financial Services
The financial services sector is unique, facing challenges that stem from balancing swift innovation with rigorous regulatory demands. Software delivery teams, in particular, must ensure compliance and maintain security as the scale of changes deployed to production environments grows each year.
Many organizations have created internal solutions to automate their governance controls; however, the absence of standardization introduces inconsistencies and uncertainties across the industry.
By joining FINOS, Kosli aims to partner with other industry leaders to create shared best practices for Software Delivery Lifecycle (SDLC) controls, ensuring that regulatory compliance does not hinder innovation.
Solving Industry Challenges in SDLC
Financial institutions confront fundamental dilemmas regarding SDLC controls. Traditional change management methods that rely on tickets, forms, and manual approvals are increasingly incompatible with the highly automated nature of modern software delivery practices.
Kosli posits that the answer lies in open, vendor-neutral solutions that promote transparency, efficiency, and persistently ensure compliance.
Kosli's partnership with FINOS will focus on several core initiatives:
- Engaging in discussions aimed at standardizing DevOps controls and change management processes.
- Developing open-source frameworks that facilitate automated compliance, benefiting all financial entities.
- Establishing best practices for the implementation of automated controls within contemporary software delivery pipelines.
- Crafting standardized approaches for audit trails and compliance documentation.
Design Patterns for a Robust Future
Kosli envisions a future where financial institutions can utilize community-driven standards and resources to integrate strong DevOps controls without compromising on pace or flexibility. Collaboration will focus on key areas such as:
- Formulating standardized design patterns for automated controls.
- Defining best practices for automating change management.
- Creating shared specifications for audit trails and compliance documentation.
- Offering reference implementations showcasing best practices in action.
Mike Long, CEO of Kosli, noted the strategic alignment with FINOS, emphasizing the stringent compliance landscape faced by financial services organizations. "We believe that software deployment should be as transparent as deploying infrastructure, with automated tracking and verifiable proof of each change. Our Controls Engineering approach integrates compliance directly into development workflows. Joining FINOS is a natural fit, as we both share a vision of enhancing open collaboration to simplify compliance in the industry."
Also expressing excitement for the collaboration, Gabriele Columbro, Executive Director of FINOS, stated, "We are thrilled to welcome Kosli to the FINOS community. The financial services industry needs standardized and open machine-readable approaches to security, such as our Common Cloud Controls project. Kosli's domain expertise aligns seamlessly with our mission to drive innovation and collaboration in financial technologies, and we eagerly anticipate their contribution to our community."
Engaging in Community Discussions
Kosli acknowledges that critical discussions on these themes are already underway within FINOS. The company is ready to lend its insights and expertise. There’s an open invitation for financial services organizations experiencing struggles with DevOps controls, compliance automation, or change management to join the conversation.
About Kosli
Kosli empowers financial institutions to automate their SDLC controls and audit trails, ensuring that compliant and secure software changes occur rapidly within DevOps frameworks. The platform provides real-time visibility and allows institutions to ensure that all modifications adhere to regulatory requirements while preserving agility in development environments.
About FINOS
FINOS (The Fintech Open Source Foundation) is a nonprofit organization that aims to promote the broader adoption of open-source software, standards, and collaborative development practices within financial services. As a part of the Linux Foundation, FINOS offers a compliant platform for developers from different organizations to work collaboratively on innovative projects, transforming business operations in finance.
Frequently Asked Questions
What is the purpose of Kosli's partnership with FINOS?
Kosli's partnership with FINOS aims to enhance industry standards for DevOps controls and change management in the financial services sector.
How does Kosli plan to contribute to financial services?
Kosli plans to work on standardizing controls, developing open-source compliance frameworks, and establishing best practices in software delivery.
What challenges does the financial industry face in software delivery?
The industry struggles with balancing rapid innovation and stringent regulatory demands, making it difficult to implement effective change management processes.
What are SDLC controls?
SDLC controls refer to the practices and processes used to ensure compliance, security, and efficiency throughout the software development lifecycle.
Who can join the conversation about these innovations?
Any financial services organization facing challenges with DevOps controls, compliance automation, or change management is encouraged to participate in the discussions.
