Published on September 28, 2016
Based on a service-oriented architecture, SL 5.0 sees the number of defined business scenarios, for which the BIAN model can be used, jump from 190 to over 700. The latest release also incorporates new features, allowing it to be fully translated across the industry.
Defined through the collaborative input of over 60 leading banks, technology vendors and consultants, the model provides a simplified, yet comprehensive solution to enable financial institutions to innovate at pace without the costs and complexities that come with legacy banking technology.
Alongside working tirelessly to define the latest business scenarios to boost the service landscape’s usability, the BIAN members have built new tools to make the standard as accessible as possible to financial services institutions across the globe. This includes a tool to enable both members and non-members to instantly view the business scenarios linked to each unique Business Capacity (Service Domain) – making the service landscape completely three dimensional for the first time.
In addition, BIAN is working with a series of partners to ensure that the language used to define the BIAN Model is translatable, whatever architecture language the financial services enterprise relies upon. New measures to support this include making the service landscape suitable for ArchiMate (a common architecture language) as well as UML (the current language deployed by BIAN). SL 5.0 will also be better aligned with the TOGAF notation.
There are also made major improvements on the integration of a very comprehensive Business Vocabulary. This vocabulary is based on the ISO20022 business vocabulary and additions are a based on the FIBO principles.