Session: Remaking the Bank: the Rise of OSS in Banking and Finance
Mr. Bergelt will discuss the growing adoption of OSS by banking and financial services firms. He will discuss a potentially significant impediment to the growth of OSS in this industry – patent lawsuits. He will explain how patent aggression by Patent Assertion Entities (PAE’s) and operating companies could slow or stall the progress of OSS code adoption in this sector absent unified support for patent non-aggression which mitigates risk.
Mr. Bergelt will discuss the benefits of developing a comprehensive IP strategy that explicitly recognizes the duality occasioned by the implementation of open source and proprietary software and the important choices involved in safeguarding unique aspects of product differentiation. He will showcase some of the strategies that banking and financial services companies can implement by working through defensive patent management and risk reduction programs authored by entities like RPX, LOTnet, Unified Patents and AST to reduce PAE and operating company risk. Finally, Mr. Bergelt will explain how banking and finance purveyors and users like Barclays, TD Bank, Sumitomo Mitsui, Ant Group (host of the AliPay mobile payments platform), Tencent (host of the WeChat mobile payments platform), UnionPay, Ethereum and others are benefiting from patent non-aggression through free membership in the Open Invention Network (OIN).