Fintech is transforming the banking and financial services industry. It’s incorporating innovation and responding to consumers’ demands.

Banking and financial service firms are introducing digital payments, card less transactions, mobile deposits and other self-service options to Business-to-Business (B2B) and Business-to-Consumer (B2C) markets. Last year, the industry had over 1,700 deals with nearly $40 billion, reports CB Insights. Visits to bank branches are expected to drop 36% between 2017 and 2022, while mobile transactions are expected to grow 121%, according to The Financial Brand.

Here to stay are the businesses — including personal financial management, insurance, payment and asset management firms — which are leveraging open source applications to solve a host of problems, from exploring new technologies to delivering real-time services. Simultaneously, they are reducing costs, accessing top talent and receiving best-of-breed technologies.

Among the open source firms which have joined our network are AlibabaAnt Financial Services Group and Tencent Holdings.

OIN Banking & Financial Services Industry Members

Banking & Financial Services Industry News

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Join leaders from the Banking & Financial Services Industry

Fintech OIN Member - Anthem
Square - OIN Community
Ally - OIN Community
ANT Group
Nationwide
SMFG
FINOS
UnionPay
Rakuten
alibaba
Tencent

What our members say

Spurious claims from Patent Assertion Entities divert resources and investment away from true innovation and collaboration. We also recognize that a modern approach to technology development and innovation requires a level playing field around use of open source software. With membership of LOT and OIN, we are pleased to contribute to and extend the growing global community working together to reduce the PAE threat and lower barriers to use of open source technologies.  
Lee BraineManaging Director, Chief Technology OfficeBarclays