{"id":105412,"date":"2025-03-11T18:00:12","date_gmt":"2025-03-11T10:00:12","guid":{"rendered":"https:\/\/version-2.com\/?p=105412"},"modified":"2025-03-24T12:44:59","modified_gmt":"2025-03-24T04:44:59","slug":"open-source-in-finance-top-technologies-and-trends","status":"publish","type":"post","link":"https:\/\/version-2.com\/en\/2025\/03\/open-source-in-finance-top-technologies-and-trends\/","title":{"rendered":"Open Source in Finance: Top Technologies and Trends"},"content":{"rendered":"
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Editor’s Note: This article was originally published on the <\/em>Fintech Open Source Foundation (FINOS) blog<\/em><\/a> and is reprinted here with permission.<\/em><\/p>

Financial organizations increasingly rely on open source software as a foundational component of their mission-critical infrastructure. In this blog, we explore the top open source trends and technologies used within the FinTech space from our last State of Open Source Report \u2014 with insights on the unique pain points these companies experience when working with OSS.\u00a0<\/p>

About the State of Open Source Survey<\/h2>

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OpenLogic by Perforce conducts an annual survey of open source users, specifically focused on open source usage within IT infrastructure. In 2024, we teamed up with the Open Source Initiative for the third year in a row, and brought on a new partner: the Eclipse Foundation, who helped us expand our reach and get more responses than ever before.<\/p>

For those looking for the non-segmented results from the entire survey population (not just respondents working in the financial sector), you can find them published in our 2024 State of Open Source Report here<\/a>.<\/p>

Demographics and Firmographics<\/span><\/h2>

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For the purposes of this blog, we segmented the results to focus on the Banking, Insurance, and Financial Services verticals. This segment, comprising 250 responses, represented 12.22% of our overall survey population.\u00a0Before we dive into some of the key results of the survey, let\u2019s look at demographic and firmographic datapoints that will help us to frame the results.<\/p>

Among respondents representing the Banking, Insurance, and Financial Services verticals, most of their companies were headquartered in North America (32% of responses), with Africa, Asia, and Europe as the next most popular locations at 18.8%, 17.6% and 16%, respectively.<\/p>

The top 3 roles for respondents were System Administrators (32%) Developers \/ Engineers (18.8%) and Managers \/ Directors (16.4%). Within this segment, we also saw strong large enterprise representation with 38.4% of respondents stating they work at companies with over 5000 employees.<\/p>

Open Source Adoption<\/h2>

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Our survey data painted a clear picture, with a combined 85.4% of respondents from these industries increasing their use of open source software. 59.4% said they\u2019re increasing their use of open source significantly. This rate of open source adoption within a heavily regulated set of verticals shows how many companies are confidently deploying open source for their mission-critical applications.<\/p>

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Looking more granularly at areas of open source investment, we saw 37.3% from this segment investing in analytics, 30.8% investing in cloud and container technologies, and 30.3% investing in databases and data technologies.<\/p>

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When asked for the reasons for adopting open source technology, our respondents identified improving development velocity (53.51%), accessing innovation (35.14%), and the overall stability (28.11%) of these technologies as the top drivers. Cost reduction and modernization rounded out the top 5, at 24.86% and 21.08% of responses within the segment, respectively.<\/p>


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Top Challenges When Using Open Source Software<\/h2>

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When we asked teams to share the biggest issues\u00a0they face as they work with open source software, some key themes emerged. Companies within this segment identified\u00a0maintaining security policies and compliance (56%), keeping up with updates and patches (49.09%), and not enough personnel (49.05%) as the most challenging.<\/p>

Later in the survey, we asked specifically about how organizations are addressing open source software skill shortages within their organizations. The top tactics selected by our respondents were hiring experienced professionals (48.18%), hiring external consultants\/contractors (44.53%), and providing internal or external training (40.88%).<\/p>

Infrastructure scalability and performance issues (67.98%), and lack of a clear community release support process (59.75%) represented the least challenging areas for respondents within this segment.<\/p>

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Top Open Source Technologies<\/h2>

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The State of Open Source Report has sections dedicated to technology categories (i.e. programming languages, databases) to assess which projects have gained adopters and are going strong vs. those that may be declining in popularity. As a reminder, the following results are specific to the Banking, Insurance, and Financial Services verticals.<\/p>

When looking at Linux distributions, the top five selections were:<\/span><\/p>