• Organizations newer to open source should identify one Based on the survey findings, we suggest that organizations: or more individuals within their organizations to be open • Establish an OSPO with senior and visible leadership, and source advocates and allot time for them to participate in produce clear policies on consumption and contribution. open source community activities. • Individuals interested in open source or collaboration more • Widely and consistently promote awareness of open generally should dedicate some time to finding an open source policies. Consider mandating training on the source community working on a topic of interest to them. policies until open source is embedded within the culture of the organization. While many organizations are making great • Provide education on best practices in open source, strides, far more need to follow their lead license management, community building, etc. It is very encouraging that financial services organizations (Individuals, if your organization isn’t offering this are more openly supporting both consumption and contri- education, ask for it.) bution, allotting more time for individuals in their organiza- • Establish internal, cross-departmental forums for tions to participate in open source activities and recognizing individuals to share their open source experiences and the value of open source for talent attraction and retention. successes, helping to break down silos and retain talent. The increasing number of OSPOs and the positive sentiment toward open source within organizations is a good foun- Clearly, the financial services industry has plenty of dation to build upon. There are still challenges that must work ahead for it to realize the full value of open source. be addressed and a long path to reaching the open source Collaboration among industry competitors to create shared maturity of other industries, but there is an increasing benefits takes time, dedicated resources, a leadership vision, number of organizations taking the right steps to solve these. and a cultural environment primed for open source innova- tion. While a strong foundation exists, open source in the financial services is in its earliest days. This truth is perhaps best captured in the words of one industry leader, who states, “How we in the financial services industry work with our peers in open source project communities is a muscle that we still need time to develop.”36 THE 2022 STATE OF OPEN SOURCE IN FINANCIAL SERVICES 44