Kosli Partners with FINOS to Innovate Financial Software Delivery
Kosli Partners with FINOS for Software Delivery Innovativeness
Kosli, a prominent provider of automated governance solutions, has announced its partnership with the Fintech Open Source Foundation (FINOS). This collaboration aims at enhancing innovation within the financial services sector by promoting the use of open source software and development practices.
This significant partnership represents the aim of advancing cohesive industry standards, particularly in the often complex realms of DevOps controls and change management.
Significance of Standardization in Financial DevOps
The financial sector faces unique challenges, especially when trying to balance the speed of innovation with the critical requirements imposed by regulatory bodies and security standards. This constant struggle significantly impacts software delivery teams that are tasked with deploying increasing volumes of changes to production environments.
While there are entities that have crafted internal strategies to streamline governance controls, the absence of a standardized approach leads to confusion and unpredictability industry-wide.
By joining FINOS, Kosli is setting forth towards a collaborative initiative with other industry leaders to create uniform best practices throughout the software delivery lifecycle (SDLC). The goal is to ensure that governance and compliance processes do not stifle the pace of innovation but instead serve as essential frameworks for success.
Challenges Addressed by SDLC Controls
Current challenges in financial institutions chiefly revolve around the effectiveness of SDLC controls. Traditional methods, which rely on tickets, manual approvals, and various forms, are proving to be incompatible with the rapid deployment capabilities afforded by modern software delivery practices.
Kosli advocates for open, vendor-agnostic solutions that support transparency, operational efficiency, and ongoing compliance. Their strategy aims to transform how financial institutions approach DevOps practices.
With a commitment focused on enhancing collaborative frameworks, Kosli plans to:
- Engage in sector-wide discussions for the establishment of standardized DevOps controls.
- Assist in the development of open-source compliance frameworks that can be adopted across financial institutions.
- Create best practice guidelines for the integration of automated governance in contemporary software delivery processes.
- Define core methodologies for maintaining effective audit trails and regulatory documentation.
Establishing Future Standards: Developing Common Design Patterns
Kosli visualizes a progressive future for financial institutions, where they can utilize community-sourced standards and tools to effectively institute robust DevOps controls with agility and expediency. The anticipated points of collaboration include:
- Establish common design patterns for implementing automated controls.
- Outline best practices to facilitate automation in change management.
- Create collective guidelines for ensuring high-quality audit trails and compliant documentation.
- Provide reference models showcasing the execution of these best practices.
Mike Long, CEO of Kosli, noted that the firm's strategy aligns perfectly with FINOS's mission. He remarked, "The financial sector operates under rigorous compliance requirements. We envision the software deployment process to mirror the infrastructure deployment methodology, complete with automated tracking for each change made. We seek to integrate compliance seamlessly into the development workflow, making this partnership with FINOS a tremendous opportunity for both organizations."
Similarly, Gabriele Columbro, Executive Director of FINOS, expressed enthusiasm about the collaboration, emphasizing the pressing need for uniform, transparent, and machine-readable security practices within the industry.
Engaging in the Ongoing Dialogue
Kosli acknowledges that critical conversations regarding these issues are actively unfolding within the FINOS ecosystem. They encourage other organizations within the financial realm facing challenges related to DevOps controls, compliance automation, or change management to join this dialogue.
About Kosli
Kosli specializes in aiding financial institutions in automating their SDLC controls and auditing processes, enabling them to execute compliant and secure software changes at the pace demanded by modern DevOps methodologies. The Kosli platform facilitates real-time oversight and governance throughout software delivery, ensuring that all changes adhere to regulatory standards while retaining necessary agility in development environments.
For more information about Kosli, visit their official website.
Frequently Asked Questions
What is Kosli's primary objective?
Kosli aims to enhance the software delivery processes within financial institutions by automating SDLC controls and creating compliant workflows.
How does Kosli's partnership with FINOS benefit the financial sector?
This collaboration encourages the development of standardized practices that aim to simplify compliance and governance, promoting innovation in financial software delivery.
What challenges does the financial industry face in software delivery?
Key challenges include balancing swift innovation with stringent regulatory compliance requirements and outdated change management processes.
What solutions does Kosli propose?
Kosli proposes open and vendor-neutral solutions aimed at establishing transparency, efficiency, and automated compliance in the software delivery lifecycle.
How can other organizations get involved?
Organizations facing related challenges are encouraged to engage in discussions and collaborate with Kosli and FINOS to develop effective practices for DevOps controls.
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