focus on implementing processes that can handle changes in In terms of where open source can and should be applied tools since tools are likely to change, but processes tend to FIGURE 35 below shows within the financial services industry, stick around for a long time. There is a real opportunity here that opportunities abound, with no strong consensus on a for much more substantial industry collaboration to address single aspect of the industry. With an industry this large and policy, process, and tooling challenges. complex, we would expect a wide range of opportunities. FIGURE 35 Many aspects of the financial services industry would benefit from open source engagement Which aspects of financial services would most benefit from open source? (select up to three) Digital identity 31% Common workflows 28% (specific to financial services) Innovation 27% Industry standards 25% Cross-industry collaboration 22% Reducing operating costs 19% Improving productivity 18% Sharing of data/open data 17% Reducing product 16% development costs Regulation and legal compliance 16% System interoperability 16% Risk management 14% Transparency 12% Robotic process automation (RPA) 6% User experience 5% Other (please specify) 1% Don’t know or not sure 5% 2022 FINOS STATE OF OSS IN FINANCIAL SERVICES SURVEY, Q38, SAMPLE SIZE = 196, VALID CASES = 196, TOTAL MENTIONS = 539 THE 2022 STATE OF OPEN SOURCE IN FINANCIAL SERVICES 41