technology and alters everything for you because software developers at banks are increasingly doing this themselves .
“ Banks are , therefore , changing the dynamic between themselves and software providers by customising software which it uses – thereby becoming more like technology companies themselves in this regard and changing the relationship in terms of indemnification .
“ This is why we ’ re seeing indemnification often not be available to protect banks from the record numbers of lawsuits we are seeing brought against banks today by patent assertion entities that for the first time are specifically targeting open source technologies .”
In this new world where banks are increasingly looking to take control of their technology futures to better service client needs but face heightened patent litigation risk by doing so , they join the ranks of all manner of IoT , Telecommunications , Electronics , Automobile companies and , in fact , all software-intensive industries by joining together to participate in the collaborative Open Invention Network which is the world ’ s largest open source patent risk mitigation initiative .
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