The recent FS-ISAC whitepaper, “Appropriate Software Security Control Types for Third Party Service and Product Providers”, reveals the majority of internal software applications created by financial services involve acquiring open source components and libraries to augment custom developed software. While open source code is freely available and reviewed by many independent developers, that review effort does not translate into all software components and libraries being free from risk.
What can the financial services industry learn from the U.S. Department of Homeland Security? In this third segment of my blog series on open source component security as it relates to the recently updated Financial Services Information Sharing and Analysis Center (FS-ISAC) guidelines, I explore the need for speed: humans vs. machines.
Let me open your eyes to a tidal wave of change that has already flooded the development organizations across Financial Services and other industries: “Software applications are no longer coded from scratch. They are assembled from building blocks — commonly known as open source components.” This is not a prediction about a tidal wave to […]