October 19, 2016
Publication: QA Financial
European rules on data sharing and the drive to automated testing are two reasons the software vendor believes shared standards for financial software are inevitable.
BIAN was founded in 2008. For years, it’s maybe been one of those ‘small but worthy’ financial industry trade bodies. But its membership has grown steadily as – one by one – bank and software vendors have come round to the idea that the industry does indeed require standard definitions for a service oriented architecture (SOA) for banking software.
And now BIAN’s clear focus on banks’ IT systems is pushing it centre-stage. It has now secured the membership of Misys, the leading trading and risk software vendor that is seeking a London listing that will value it at £3.25bn-plus.
BIAN now has 27 bank members and 43 software vendor members. Nordea, the Scandinavian banking group, also joined BIAN recently, and a number of large US banks are also planning on signing up, according to Hans Tesselar, BIAN’s executive director. “We are focusing on getting the largest financial institutions in the US and Europe to join and also on developing a larger footprint in Asia,” Tesselar told