Open innovation in financial services sector: How co-creating open source software benefits your business

Leslie Hawthorn, Manager – Vertical Community Strategy , Red Hat
Joe Giordano, Chief Architect – NE Regional Office of Technology, Red Hat

From sepsis detection in critical care patients to Finance AI handling fraud detection, open source has accelerated innovation. Modern shifts in how goods and services are brought to market would have been impossible without the collaboration and co-creation taking place in open source communities—what Red Hat terms “open innovation.”

In this session, we’ll explore the “what’s in it for me” for FSI and FinTech firms that are considering participation in open source software (OSS) projects. Amongst other topics, we’ll cover:

    • Concrete steps FSI firms can take to foster an open innovation culture.
    • Benefits of co-creating open source software over a consumption-only model. 
    • Delivering business value at high velocity while simultaneously reducing risk and cost.

Leave this session with a deeper understanding of OSS communities, types of participation in these communities (degrees of engagement), and the benefits that organizations can expect from engaging upstream.

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