Not for profit organization announces its 9th update to innovation model
Frankfurt – October 28, 2020 – Today, BIAN, the independent not-for-profit association, announces Service Landscape 9.0 (SL 9.0), to help its members modernize internal architecture and future proof their businesses for the customer of tomorrow. This update comes at a time when 37% of those working in the financial services sector believe the changing of customer demands will drive the most significant change of the next few years.
The new update sees the addition of 43 new APIs, combining the targeted extension to the coverage of retail banking, corporate banking and fraud. Everyone in the Financial Services Industry can now benefit from a total of 186 APIs in its Open API Exchange. In addition to this, SL 9.0 includes 13 new service domains. These domains have been identified by BIAN’s members to support the adoption of specific projects and initiatives across their organisations. These include credit card transaction execution, customer products and services, and employee payment services.
In addition to its partly full ISO20022 mappings in SL 7.0, BIAN has defined ISO20022 Light Mapping for 35 of its newest service domains in SL 9.0. This is a single standardization approach which is used by all financial standards initiatives, to encourage users to adopt models under an internationally agreed-upon approach and to migrate to the use of a common vocabulary and a common set of syntaxes. Over the next few years, BIAN and its members aim to ensure that all of its service domains reach this status.
“BIAN is well known as the backbone of the industry when it comes to providing a common framework for banking services”, said Hans Tesselaar, Executive Director of BIAN. “The updates to our service landscape will prove extremely valuable, especially during these difficult times, as we as an industry attempt to navigate the new normal. 2020 has shown us that we must be more agile than ever, and Service Landscape 9.0 will allow our members to push boundaries when it comes to innovation and take banking to the next level.”
BIAN is also announcing the availability of the BIAN Practitioners Guide, to support members both new and old in adopting BIAN’s model. The guide provides a high-level step-by-step overview, which is accompanied by case studies and whitepapers, highlighting how existing members have adopted and benefitted from the model. For more information on the guide, please visit BIAN’s website.
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 operability and semantic definitions for IT services in 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 service-oriented architecture.