Survey and interview findings Value proposition differentiate the organization, nor does it provide an obvious There are several benefits to open source software, including competitive advantage. Unlike proprietary software, open increased agility and innovative technical capabilities. source technologies are customizable and scalable to adjust Through survey results and personal interviews with indi- and modify to the business’s needs. Starting a project from viduals in global financial institutions, we explore how scratch simply isn’t necessary when there are a wide variety respondents are motivated to leverage open source and of secure open source packages. how it impacts not only their technology, but also people and productivity while remaining secure and compliant. In In the words of one OSPO leader, “We're not going to differ- addition, we review aspirational opportunities in the open entiate ourselves in the marketplace by making a container 3 source journey. orchestration system.” However, many institutions need container orchestration tools to automate the deployment, MOTIVATORS networking, scaling, and management of containers. Open Financial institutions need to rapidly modernize their tech- source enables faster time to value if one is already shared in nology function to support the digital transformation of the open for all to use and modify through collaboration. both the front and back ends of their businesses. Enterprises are increasingly turning to open source technologies for Balancing out the consumption of open source software business-critical work involved in their digital transfor- for internal projects includes contributing to open source mation strategies. There are several benefits to open source by getting involved in upstream projects and communities. software, such as cost savings, increased agility, and inno- Contributing to open source software helps institutions to vative technical capabilities. understand that the foundational technologies for their busi- nesses are secure. An added benefit of contribution is the According to Gil Yehuda of U.S. Bank, “Open source has been ability to reduce technical debt by relying on publicly main- 2 He also says, “In general, strategic for the organization.” tained versions. some financial services organizations viewed technology as something you purchase versus a strategic component to The challenges that most organizations face aren't only tech- their business growth. We’re now seeing technology deci- nological. The problems can lie in how teams operate either sions as being strategic to business for more firms.” together or singularly. Structuring collaboration is a signif- icant step in organizing how innovation occurs around the More broadly, however, this tells us that financial services organization’s choice to leverage open source software leaders are starting to understand the benefits of consuming and its principles. This can be a challenge within siloed open source—especially when open source does not organizations. THE 2022 STATE OF OPEN SOURCE IN FINANCIAL SERVICES 11