Software development in the banking and finance industry can make you feel like you’re wearing chains. Regulation, compliance, upfront costs, privacy, legacy systems, fear of cyberattacks, and an “if it ain’t broke” approach can lead to a lack of innovation. Despite these challenges, some technology-forward banks like Capital One, JP Morgan Chase, HSBC, and Wells Fargo have embraced the cloud and introduced DevSecOps and cloud-friendly architectural practices.

Software programs today can be likened to a complex stew, with multiple ingredients sourced from disparate places. In software, open-source tools are a major ingredient. According to the 2020 Open Source Security and Risk Analysis (OSSRA) report produced by the Synopsys Cybersecurity Research Center, 99 percent of the codebases contain at least one open source component, with open source comprising 70 percent of the code overall.