Article: Protection of privacy paramount in open finance

API, Money, Open Governance, Open Infrastructure

Protection of privacy paramount in open finance

Open finance is a framework that gives people the right to choose with whom they share their financial data. Done properly, it should enable secure and easy sharing of data, which in turn will allow companies to develop products related to insurance, alternative lending, digital banking, personal financial management, account aggregation and more. Open finance will also promote financial inclusion for all South Africans; it is something that we can all look forward to.

The Financial Services Conduct Authority (FSCA) is paving the way for the regulation of open finance in SA. In May there was a feedback session on its draft open finance consultation paper. Here is a summary of the main points affecting fintech companies and traditional financial institutions alike.

Read Full Article

Article: Why A.I. needs to be open to all

API, Open Infrastructure

Why A.I. needs to be open to all

Businesses of all sizes across different sectors are exploring or deploying Artificial Intelligence (A.I.) today more than ever before. This is game-changing for companies, as they look to leverage automation, natural language processing, data-driven decision-making, and a host of other capabilities. They are using A.I. to drive enhanced customer experience, complement their knowledge workers, boost innovation, and become truly agile. In the Covid-19 era, A.I. has had a crucial role to play in improving business resiliency and continuity besides powering personalized customer service.

However, successful A.I. adoption is dependent on a few factors such as moving A.I. from prototype to scale and the availability of skilled talent. To realize A.I. at scale, it needs to be portable across clouds and not restricted to the tech platforms on which the prototype was built.

Read Full Article

Article: Airbyte announces $26M Series A for open source data connector platform

API, Open Infrastructure

Airbyte announces $26M Series A for open source data connector platform

One of the major issues facing companies these days isn’t finding relevant data so much as moving it to where it’s needed. Enter Airbyte, an early-stage startup that is building an open-source data integration platform to help solve that problem. Today the company announced a $26 million Series A, just a couple of months after announcing its $5.2 million seed round.

Benchmark led the investment with help from 8VC, Accel, SV Angel, Y Combinator and multiple tech industry luminaries. The company has raised more than $31 million, all of it coming this year.

Read Full Article

Article: Striking a balance with ‘open’ at Snowflake

API, Open Governance, Open Infrastructure, Standards

Striking a balance with ‘open’ at Snowflake

The relative merits of “open” have been hotly debated in our industry for years. There is a sense in some quarters that being open is beneficial by default, but this view does not always fully consider the objectives being served. What matters most to the vast majority of organizations are security, performance, costs, simplicity, and innovation. Open should always be employed in service of those goals, not as the goal in itself.

When we develop products at Snowflake, we evaluate where open standards, open formats, and open source can create the best outcome for our customers. We believe strongly in the positive impact of open and we are grateful for the open source community’s efforts, which have propelled the big data revolution and much more

Read Full Article

Article: The State Of Open-Source Ecosystem In India

API, Innovation, Open Governance, Open Space, Standards

The State Of Open-Source Ecosystem In India

India has a vibrant and growing open-source community. In March, Microsoft’s GitHub, which has 5.8 million Indian contributors, announced a grant of Rs.1 crore to support India-based open-source maintainers and contributors who build world-class software using open-source tools. As per GitHub COO Erica Brescia, India is the fastest-growing country in terms of new developers contributing to open-source projects.

Open-source software development has a lot of potential in India and could become the best in the world under the right circumstances. The government of India can play a major role here. Introducing policy-level changes to open-source development could encourage a mutually beneficial relationship for both the government and the developers and give ‘Digital India’ a much needed push.

Read Full Article

Article: Open APIs And What They Mean For Banks & Family Offices

API, Money, Open Governance, Open Infrastructure

Open APIs And What They Mean For Banks & Family Offices

The digital age and growing globalization have triggered a rapid evolution in the financial needs of ultra-high net worth individuals and family offices, driving increasing complexity in wealth management.

A mere decade ago, most UHNWIs and family offices conducted all of their financial transactions through a single bank. In recent years, multiple banking relationships have become commonplace, and individual wealth spread across a range of specialized custodians and jurisdictions. This has catapulted banks into a highly competitive environment.

Read Full Article

Article: Why Istio is winning the open source service mesh race [Q&A]

API, Open Infrastructure, Spectrum

Why Istio is winning the open source service mesh race [Q&A]

In recent years the use of microservices has helped to streamline development processes. But there’s still an issue with managing communication between services. Service mesh is a technology that adds uniform networking capabilities right across the program stack but is decoupled from the application code itself.

There are a number of competing options available to implement service mesh. We spoke to Lin Sun, director of open source at to find out why she believes the IBM/Google open source project, Istio is the clear winner.

Read Full Article

Article: Payments Firm 2C2P Partners Brankas to Bring Open Banking to Indonesia

API, Money, Open Governance, Open Infrastructure

Payments Firm 2C2P Partners Brankas to Bring Open Banking to Indonesia

Brankas, an Indonesian open banking provider, announced a strategic partnership with payments firm 2C2P to introduce their modern open banking solution to Indonesia. Through Brankas‘ API integration, customers of 2C2P’s merchants will be directly connected to major Indonesian banks including Bank Central Asia (BCA), Bank Mandiri, Bank Negara Indonesia and Bank Rakyat Indonesia.

Built on the principles of open banking, the partnership allows Indonesian businesses to offer customers a direct debit option during the checkout process to make payments from their personal banking accounts with the afore-mentioned banks immediately.

Read Full Article

Article: Why The 21st Century Cures Act is an Innovators Dream

API, Cures, Drugs, Open Health, Open Infrastructure, Procedures (Medical)

Why The 21st Century Cures Act is an Innovators Dream

Designed largely to accelerate medical product development and get new medications and treatments through the development process faster, the 21st Century Cures Act is a significant piece of legislation that  passed in 2016.

Some of its provisions are also meant to empower patients with more information about their own . The ONC Cures Act Final Rule in particular — which will go into effect in April of this year — says that providers must make patients’ electronic health records (EHRs) available to them. This means that data is unequivocally going to be in the hands of patients. It means better care for patients, but it also means that a whole new set of services and innovations will be possible.

Read Full Article

Article: 5 top open-source infrastructure projects

API, Open Infrastructure

5 top open-source infrastructure projects

Open source is at the heart of many technologies pushing enterprise infrastructure forward, and here are of the five most important. Open source software has been a key underpinning of enterprise IT for years, so it’s no surprise that it’s helping to drive the infrastructure part of the equation forward just as much as application development.

Some projects are much more influential than others, and here are five that are doing the most to help enterprise infrastructure keep pace with the demands of an ever-more sophisticated operating environment.

Read Full Article