The Banking Industry Architecture Network welcomes a host of new members

Thursday 12 March 2020 14:08 CET | News

Independent not-for-profit standards association, The Banking Industry Architecture Network (BIAN), has welcomed a host of new members to its organisation. 

This includes a range of banks, consultancies and technology businesses such as, U.S. Bank, Banco de Credito del Peru, Bank Leumi, SPD Bank, UOB, CC&C Solutions, Knowis AG, Deloitte Consulting, SunTec Business Solutions, Technisys, Wipro and ServiceNow.

The growth in global memberships can be largely attributed to increasing recognition of the important role of standards in Open Banking practices across the world. Beginning in 2018 as an initiative to modernise banking practices in the UK, Open Banking has led to the beginning of a revolution, not only in the region but around the globe. It has sparked the development of new banking services – deployed via easy-to-integrate APIs – designed to be more relevant for today’s digital-centric customers. 

Established in 2008, the Banking Industry Architecture Network (BIAN) is an independent, member owned, not-for-profit association, designed to build and promote a common architectural framework for banking interoperability issues. BIAN’s goal is to define an Enterprise-, Functional- and Technical Architecture supported by semantic API definitions for the banking industry. The community of over 80 members focuses on creating a standard semantic banking services landscape, while ensuring consistent service definitions, levels of detail and boundaries. This will help banks to achieve a reduction of integration costs and take advantage of a micro services-based architecture.

Financial institutions, software vendors, and system integrators, along with technology- and academic partners, are invited to join the association and play a collaborative role with other industry leaders in defining, building and implementing new banking platforms.

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Keywords: The Banking Industry Architecture Network, BIAN, Open Banking, standardisation, banking, API
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech