In the spirit of fostering open standards and interoperability to empower our community, I am pleased to share that we will support the FDC3 standard, and plan to extend its open source interface in order to offer more versatile integrations between desktop applications and Symphony. The richer FDC3 API will offer an array of options for streamlining and enhancing new and existing collaboration workflows for professionals in the financial industry.
This announcement coincides with a reiteration of our support of open source, FINOS and its mission, the organization committed to defining and developing open source standards for the financial services industry. I am honored to have been named to its board and we look forward to participating in more open source projects in the coming years.
A bit of background: FDC3 (which stands for Financial Desktop Connectivity and Collaboration Consortium) is an open standard for desktop integration in the financial industry. FDC3 implementations offer a relatively easy way for financial companies, where desktop real estate is a challenge, to achieve a much more integrated workflow on the desktop across new and legacy applications. FDC3 implementations can lower development costs for certain types of integrations and reduce time to market. Currently the FDC3 standard offers a somewhat limited interface or definitions of intents and contexts for integrating applications with chat and collaboration platforms. We have engaged with the FDC3 community and FINOS to define a richer interface based on real use cases and customer requirements, and we intend to expand the standard to a broader usage beyond the desktop applications.