Open Source in Finance Forum New York 2024

InnerSource is a common topic in many organizations, often discussed in the context of enhancing team collaboration and resource utilization. While numerous teams have embraced this model from a product perspective, we recognized an opportunity to focus on a different set of assets aimed at component reuse. Our approach at Discover goes beyond the traditional product approach. We noticed a gap where valuable reusable components are created, yet they fall outside the scope of any single product team. To address this, we have implemented an internal open-source model, encouraging a community-driven development framework. 
 
Discover has pioneered a Foundation model, inspired by open-source principles, designed to foster collaboration, incubate innovation, and govern the development of reusable components built and shared across organizational boundaries. This model includes our internal requirements for maintaining products and libraries, standardizing delivery through pipelines, and community-driven governance structure that ensure the sustainability and scalability of these assets across the organization.  
 
Our strategy focuses on building a culture that supports InnerSource development within the company, encouraging collaboration beyond individual product teams. By leveraging open-source principles, we aim to create elasticity in resource capacity and cultivate a thriving ecosystem of reusable components that benefit the entire company.