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Open Source Blog
Could open source help bail out the banks?
September 23, 2008
While the latest financial crisis has many in the financial services sector scratching their heads and wondering how best to navigate the maelstrom, one company believes that open source software could help them on their way.
While some observers would surely argue that the only thing that could help many of the struggling banks right now would be for their staff to pay back the billions of dollars their firms have paid out in bonuses in the past few years (ouch); open source platform and services firm OpenLogic says open source software could help...[click continue reading for more on this entry]...
The firm concedes that it is basing this theory largely on anecdotal evidence, but notes: “OpenLogic has seen revenue from financial services sector in first half of 2008 almost triple the same period in 2007; companies proactively search for open source support – the company has seen inbound support leads go up by more than an order of magnitude in the past year; and in Q3, leads from financial services companies looking for help with open source have already tripled over the previous quarter.”
The company notes that open source is already widely used in the enterprise, which we knew, but it says the average is now over 100 open source packages per enterprise. It also says – which we also knew – that OSS is proven in many categories and that OSS familiarity is growing amongst both CIOs and technical staff.
Finally it adds that, “Results of high visibility legal suits have made users feel safer.” No prizes for guessing the kind of suits they are talking about there.
OpenLogic is here.
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