BIAN is in partnership with independent standards bodies such as Object Management Group (OMG) and The Open Group. In addition, BIAN has a ‘category D liaison’ with the International Organisation for Standardisation (ISO), for ISO 20022 semantic models. BIAN incorporates when possible the work of these organizations. As an example, the BIAN Metamodel is closely aligned to, and draws on parts of, the ISO20022 Meta Model for many of the detailed definitional aspects.
These working partnerships mark a big step forward in BIAN’s commitment to complimentary standards collaboration.
BIAN and other Standards are complementary
BIAN Key Points:
- Distinct application to application (A2A) focus, which complements the business-to-business (B2B) focus of IFX and SWIFT
- Total focus on semantic definitions – technical definitions are excluded from official work products (helps to balance other industry efforts that, while not excluding semantics, have historically focused on technical specifications)
- BIAN, IFX, and the OMG Finance Domain Task Force recognize ISO 20022 standard and the SWIFT – administered ISO 20022 Repository key to keeping standards bodies in the finance sector aligned with one another
- Service – oriented, whereas IFX, SWIFT, and ISO 20022 are message – oriented
- UML is a foundational technology, heavily used in the financial services industry