FactSet (NYSE:FDS) (NASDAQ:FDS), a global provider of integrated financial information, analytical applications, and industry-leading service, announced that it has deployed the FactSet workstation on OpenFin, the financial industry’s operating system.
The use of OpenFin provides clients with the opportunity to leverage FactSet seamlessly and efficiently alongside proprietary, internally developed desktop applications. Users will also be able to integrate third-party applications available within the OpenFin ecosystem directly into their FactSet workflows.
This flexible access will be provided using the FDC3 interoperability standards. Through the adoption of open technology ecosystems such as OpenFin and standards such as FDC3, financial institutions have greater access and opportunity to build integrated workflow solutions using any FDC3-compliant application, such as FactSet, without the need to create bespoke back-end integration capabilities on their own. All data and applications on OpenFin can work together seamlessly whether built by a 3rd party provider or developed in-house.
“FactSet is committed to being an open and flexible data and technology partner to our clients, and we are proud to be the first major market data and analytics provider to deploy on OpenFin,” said Gene Fernandez, Chief Technology and Product Officer, FactSet. “Clients are looking for increased technological flexibility across the board, and our work with OpenFin allows us to connect them to an even more robust universe of internal and external data and applications.”
Today, OpenFin runs more than 1,000 applications at over 1,500 banks and buy-side firms across 200,000 desktops in 60+ countries. The FDC3 initiative was founded by OpenFin in collaboration with major banks, buyside, and vendor firms to create an ecosystem of interoperable applications. FactSet has been at the forefront of contributing to the FDC3 standards, which are now being developed under the auspices of FINOS, the Fintech Open Source Foundation.
“It is exciting to see global leaders like FactSet leverage increased openness and interoperable standards to deliver faster, more efficient client experiences,” said Mazy Dar, CEO, OpenFin. “Working with FactSet will further serve to accelerate a generational shift, not only in how we work across financial services, but also in how applications are developed, distributed, and maintained on industry desktops.”