19 05 Committing to open-source software with serverless applications. Time is money, and not having to provision, manage, tune, and support infrastructure—such as virtual machines, Hadoop/Spark clusters, and databases— allows employees to focus on building systems and learning from data while improving time-to-market and project ROI. Using open-source code rather than starting all software projects from scratch also enables faster innovation, provides tighter security, and offers freedom from vendor lock-in. Sharing changes to open-source software with the public permits a richness of thought and a 12 continuous feedback loop with users .Numerous capital markets firms, such as JP Morgan, Goldman Sachs, and Bank of New York Mellon, have begun to champion open-source development and participate in related industry groups, 13 such as the Fintech Open Source Foundation (FINOS) . A Tier-1 investment bank currently working on open-source projects indicates that the key benefits recognized by the firm’s C-suite are less dependency on vendors and the ability to run systems at lower cost. The move is not without risk, however, as the firm has to keep a close handle on the source code underlying each of its development efforts. To this end, the legal team has gained expertise in tracking intellectual property in this area. Another Tier-1 bank champion notes that his firm used managed services to develop a more sophisticated client support system to connect all of its communication channels to a data visualization tool, which has improved the bank’s sales and client relationship management. The development process was much quicker than its previous efforts, and the business has benefited accordingly.