FINOS Delivers V 1.0 of Financial Desktop Interoperability Open Standard

FDC3

I have a feeling that I’m going to look back on today as a defining moment in the growth of our business as the financial desktop interoperability open standard has just been released.

If you haven’t seen it already, The Fintech Open Source Foundation (FINOS) released the first major version of the Financial Desktop Connectivity and Collaboration Consortium (FDC3) standard. This set of standards is aimed at helping desktop applications interoperate. These include basic integration mechanisms, application directory services, and application intents. Together, they will provide many of the critical building blocks for an open ecosystem in which applications can communicate via any compliant desktop integration platform e.g. Glue42. What is also important is that these are the first open standards in the financial technology industry and an enabler for the interop movement in the financial services industry.

In order to help drive success, it is important to remember that an agreed set of interfaces will only help switch in/out vendor applications and platforms at design/code time. To achieve true runtime-interoperability requires an implementation of those interfaces that is also vendor agnostic. This, of course, is the Glue42 way, and we will be offering open implementations that allow frictionless interoperability.

Finally, the existing FDC3 interfaces are a great starting point and we will endeavor to reach a consensus on some new concepts that have already been implemented in Glue42. These include:

  • Request/response;
  • Shared data contexts (with optional channels);
  • Data streaming;
  • Workflow management e.g. user configurable workspaces, window grouping.

Stay tuned for further news from Glue42 about the financial desktop interoperability open standard and its implementation through our products.

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Author Details

James Wooster

COO, Glue42

James is COO of Glue42, a provider of desktop integration platforms. He has an extensive background in software integration solutions and spent his formative years in a variety of development and architecture roles. Since then, he has run field operations & sales organisations for software integration businesses including SAP’s UK, Software AG Australia and TIBCO UK.