SocGen sings the praises of open source

SocGen sings the praises of open source

SocGen is burnishing its open source credentials by sponsoring an initiative by Inria, the French National Institute for computer science and applied mathematics, to create a global library of source code.

Inria launched the Software Heritage project in June 2016 to collect, organise, preserve and share all software that is publicly available in source code form around the world. The universal, permanent archive aims to build a global resource for computer science research for society, science and industry.

Societe Generale is the only bank involved in the project, reflecting the bank's belief in the power of open source to help it achieve its digital transformation strategy.

As an asset that can help promote flexibility, inter-operability, innovation and agility, the bank describes open source as 'major issue' for the group, opening doors to new digital practices.

For the 5000 staff working at Les Dunes, Societe Generale’s technology hub in eastern Paris, the potential of open source software is evaluated for each and every project under review, says Xavier Lofficial, group head of transformation, processes and information systems at Societe Generale

“We are aware of the importance of code in our digital transformation," he says. "Code has become a major issue and we are convinced of the need to preserve it over the long term. By using open source, which is by nature a collaborative and community-based technological innovation, we work together to develop collective intelligence and a new customer-centric banking model.”

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