For open source to become widely used across economies – a prerequisite for its use by regulators – Fulmer feels , somewhat ironically , that a firmer regulatory framework should be introduced to lay out the conditions of open source usage at banks and financial institutions .
“ The community looking to drive the open-source agenda for financial institutions are the people we should be working with to define a regulatory framework ,” Fulmer adds .
“ The same way they ’ re trying to define a framework for AI , we should be looking to define a framework for open source .
“ I think the engagement the community has with some of the regulators in the EU , the US and the UK would help in getting them all onboard with this .
“ And I think that ’ s the thin edge of the wedge ,” Fulmer concludes . “ Once you get the community to agree and once you get the cohort of legislators to accept it , then I think it ’ s fait accompli for the banks .” fintechmagazine . com 105