Company’s TuxCare services play leading role in securing open source for financial institutions; joins FINOS as silver member
CloudLinux announced that it joins FINOS (the Fintech Open Source Foundation) as a silver member to contribute projects within its financial open source community, from its TuxCare security services. FINOS is a nonprofit whose mission is to foster adoption of open source, open standards, and collaborative software development practices in financial services. With the move, CloudLinux delivers on its mission of providing open-source Linux enterprise-grade technology to the financial industry.
“From protecting valuable intellectual property to adhering to compliance and reducing regulatory pressures, formidable technology based on open source can address key security concerns and can help prevent attacks before they happen”
“Being a part of the open source community and actively contributing to it is one of our corporate principles, so joining FINOS is a logical next step and an important milestone for our company,” said Jim Jackson, president and chief revenue officer, CloudLinux. “Since our company’s founding 12 years ago, our collaboration and integration in the open source community have been growing exponentially. Our goal as a silver FINOS member is to further strengthen the open source technology used in the finance industry so that it is secure and robust.”
Read More: i2c Becomes First Company to be a Visa Fintech Fast Track Member in Four Regions
Financial services teams around the world increasingly face security challenges like ransomware and data breaches stemming from unpatched vulnerabilities — from banks to credit card companies to credit rating companies. TuxCare services is the umbrella offering of the CloudLinux family of enterprise support services which include live patching for critical components in the Linux stack, from the kernel all the way to widely-used shared libraries. Traditional patching for security flaws requires extensive planning and a maintenance window, affecting regular business activities and workflow, and also demanded a server reboot or service restart. With TuxCare live patching technology, this is no longer the case – the patches are applied while the affected systems are running, without any impact to regular activity.
With TuxCare Linux Support Services, regular patches and updates are delivered for all components of enterprise Linux systems, as well as 24/7 incident support – even when systems are past their End-of-Life (EOL). As part of FINOS, TuxCare will contribute its extensive security know-how on security management, patch development and deployment, and its open source tools like uChecker, a tool that identifies vulnerable libraries still resident in memory – even after updates – that are used by running system processes. This type of situation led to attacks like Heartbleed, a vulnerability that targeted financial institutions extensively.
Read More: Bakkt Expands Reach of the Digital Wallet Experience to Send Digital Assets to Anyone
“From protecting valuable intellectual property to adhering to compliance and reducing regulatory pressures, formidable technology based on open source can address key security concerns and can help prevent attacks before they happen,” said Gabriele Columbro, executive director, FINOS. “With CloudLinux and its TuxCare services joining FINOS, we expect to see more involvement and activity to address the security challenges that the financial services industry faces and how open source adoption can benefit institutions and fintechs.”
Read More: Daily Fintech Series Roundup: Top Fintech News, Analytics and Insights
