Frequently Asked Questions on BIAN’s Role in Banking
- The Banking Industry Architecture Network (BIAN) was founded on 29th April 2008 and is an independent, member-owned, not-for-profit organization which, in collaboration with industry participants, aims to define and set the de facto IT standards for banking interoperability services.
- In this unique community, BIAN members — namely financial institutions, software vendors, system integrators, consultancies, and academics — work together to create common Business- and IT- standards for the financial services industry.
- Provide the world with the best banking architecture. To be the banking technology standard.
The Central objective is to support the banking business/clients with high performance and security. - Provide a trusted roadmap for constant innovation. We create best practice architecture that the world’s banks can rely upon 100%.
- To gather the best minds in banking architecture for the world to share in an open way.
- By collaborating and sharing in an open way, the best expertise across our global ecosystem of leading banks, technology providers, FinTech players, academics and consultants to define a revolutionary banking technology framework that standardizes and simplifies the overall banking architecture.
- By gathering a community of industry-leading players and global banks that openly share domain and technical expertise to Service Based principles and methodologies, the BIAN initiative represents a real opportunity for financial institutions to accelerate the replacement of inflexible legacy environments, create IT and business agility, while reducing integration costs without simply slashing costs.
- Integration costs are often triple the purchase costs of the original software and in most organizations such costs can make or break the business case in the deployment of new functionality or purchased packages. By working with BIAN, banks are leveraging worldwide best practices.
- BIAN receives funds only from its members. BIAN members pay an annual membership fee to the organization. BIAN has one type of membership category but honors size and type of member via adjusted fees.