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CloudLinux Joins FINOS to Bring Open Source Software and Technology Standards to the Financial Services Industry

·4 min read

Company’s TuxCare services play leading role in securing open source for financial institutions; joins FINOS as silver member

PALO ALTO, Calif., Jun 22, 2021--(BUSINESS WIRE)--CloudLinux today 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.

"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."

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.

"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."

About FINOS

FINOS (The Fintech Open Source Foundation) is a nonprofit whose mission is to foster the adoption of open source, open standards and collaborative software development practices in financial services. It is the center for open source developers and the financial services industry to build new technology projects that have a lasting impact on business operations. As a regulatory compliant platform, the foundation enables developers from these competing organizations to collaborate on projects with a strong propensity for mutualization. It has enabled codebase contributions from both the buy- and sell-side firms and counts over 40 major financial institutions, fintechs and technology consultancies as part of its membership. FINOS is also part of the Linux Foundation, the largest shared technology organization in the world.

About CloudLinux

CloudLinux is on a mission to continually increase security, stability and availability of Linux servers and devices. Headquartered in Palo Alto, California, CloudLinux Inc. develops a hardened Linux distribution, Linux kernel live security patching, extended support options for Linux, and web server security software used by enterprises, service providers, governments, and universities all over the world.

CloudLinux has more than 4,000 customers and partners, more than 500,000 product installations globally, and dedicated analysts and developers that together have more than 450 years' worth of Linux experience along with a passion for delivering the best customer care.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210622005272/en/

Contacts

Glenn Rossman
Eckert Communications (for CloudLinux)
glenn@eckertcomms.com
914-623-8354