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NEW YORK - The Fintech Open Source Foundation (FINOS) has appointed Bhupesh Vora from RBC Capital Markets as Chair and Sitija Sarkar from BlackRock as Vice Chair of its Governing Board, the organization announced Wednesday.
The financial services umbrella of the Linux Foundation also welcomed seven new members: Accenture, Commonwealth Bank of Australia, EQTY Lab, FossID, Hitachi, Tetrate and Tokenovate, representing various sectors including global banks, system integrators, technology providers and fintech innovators.
According to the announcement, FINOS is shifting its focus from "open source readiness" to delivering measurable return on investment through open source initiatives. The organization plans to expand cross-industry collaboration, advance AI governance, address technology risk through open source, and promote open standards for business efficiency.
"As we enter this next chapter, we aim to embed open source into the core operating fabric of global finance-not just as a technology strategy, but as a business imperative," said Vora, who also serves as Head of Quantitative & Technology Services Europe at RBC Capital Markets.
FINOS also appointed two new Governing Board Gold Representatives: Johnna Powell from The Depository Trust & Clearing Corporation (DTCC) and Dietmar Fauser from Symphony.
The new members bring specialized expertise to the foundation. Accenture aims to drive open source adoption across client institutions, while Commonwealth Bank of Australia represents increasing global interest in collaborative standards. FossID specializes in open source license compliance, EQTY Lab focuses on AI transparency, Hitachi supports Japan’s financial sector modernization, Tetrate brings expertise in securing service mesh architectures, and Tokenovate concentrates on smart contracts and digital asset infrastructure.
The announcement reflects the growing importance of open source as a strategic driver across financial services, according to the press release statement.
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