NatWest Markets to expand open source coding

NatWest Markets has announced today that it will begin to contribute to open source projects.

Until recently, the bank’s participation in open source was to consume code and use it to build innovative products and services for customers. The decision to now also contribute to open source projects sends a strong signal that the bank is committed to collaborating with financial services peers to help raise standards and the pace at which it can deliver to customers.

This move will also allow NatWest Markets to draw upon a wider range of expertise in the software development community by collaborating with the owners of projects on their direction and allowing it to produce code that can benefit open source project communities at large, rather than just on its own use cases.  This will help the bank play an important role in shaping open source rules and standards where its engineers can contribute and learn from the community.

The bank’s first contribution will be to Waltz, a flexible, powerful enterprise architecture tool which is used to manage how information and data flows between all its applications. Waltz is used to gather and hold information about business services, data, applications and servers from many different sources and displays that information in a single, easy to understand user interface. This enables comprehensive, detailed information to be presented in a straightforward format for technology leaders to digest and in turn help make complex decisions on how to serve business and customer needs through technology with the best possible data.

NatWest Markets’ move into open source is part of the bank’s continuing technology transformation; focusing on simplicity and modern technology to deliver the best and most efficient infrastructure for its business, and ultimately for its customers.

Commenting, Stephen Nixon, Head of Open Source Engagement at NatWest Markets, said:

“This is an important step forward for NatWest Markets as it means we’ll now be able to engage with a wider community of talented developers who can help us build even better products and services for our customers. We are excited by this decision to engage in open source projects and energised by the prospect of gaining and giving value to the financial services and technology communities. Waltz is a powerful tool that will enable NatWest Markets to continue to deliver the architectural control of our IT and data which in turn will benefit both our customers and shareholders.”

David Watkins, Director of Waltz, said:

“We are delighted that NatWest Markets has adopted Waltz. Their participation brings exciting opportunities for cross-organisational collaboration, helping to drive a standard approach in describing and managing enterprise technology landscapes.”

Notes to editors

  1. You can find out more about Waltz here: http://www.waltz-technology.com
  2. About NatWest Markets

NatWest Markets helps global financial institutions and corporates manage their financial risks and achieve their short-and long-term financial goals while navigating changing markets and regulation. We do this by providing global market access, financing, risk management and trading solutions. We operate from trading hubs in London, Singapore and Stamford with sales offices across key locations in the UK, EU, US and Asia.