According to a May 1, 2009 article in the Wall Street Journal, the financial sector wants to rethink its stance on open source technology. Just as in libraries, open source began making its presence due to increase cost pressures. It’s just too expensive to use proprietary software.
“The crisis has shattered the orthodoxy in what is accepted as the correct way to build out systems,” comments Graham Miller, cofounder and CEO of Marketcetera. Instead of standing alone as a separate product, open source can link in with your proprietary stuff.
Open source has been criticized for its lack of security, but firms are taking precautions to ensure maximum control and flexibility. But, is a free lunch ever a free lunch? Some believe open source may sound as if it is less expensive, while others believe further engineering of the software itself could create substantial costs.
Librarian a la mode 