Not for profit organization announces 10th iteration of innovation model
Frankfurt — 9th December 2021 —Â BIAN, the independent not-for-profit association, is today announcing the availability of Service Landscape 10.0 (SL 10.0). The Landscape was created in 2010 and is a reference structure that categorizes and organizes BIAN’s Service Domains. These represent the unique business functions that BIAN has defined as a standard for the banking industry. The Landscape aims to help the industry modernize core infrastructure as they attempt to align their services to the needs of the modern customer.
The updated Service Landscape has 57 additional APIs, bringing the total to 243. The new APIs cover the outstanding banking specific functions that have not been included in BIAN’s library to date. These include the likes of account reconciliation, corporate payroll services, and hedge fund administration. In addition to this, the Service Landscape has been updated so that there is a clear and straightforward link between the BIAN models and the derived technical implementations of BIAN APIs. BIAN is also aligning the APIs with prevailing technical standards, such as OAS 3x, an open-source development standard that is widely used across the industry to ensure the APIs are easily adopted.
“BIAN is well known as the backbone of the industry when it comes to providing a common framework for banking services”, said Shanker Ramamurthy, BIAN board member and Global Managing Partner- Banking at IBM. “The updates to its service landscape will prove extremely valuable, especially during these uncertain times, as we attempt to navigate the new normal. Joining BIAN has allowed us to have a say in the future of banking; this is something we’re truly proud of.”
Â “We’re excited to announce the availability of Service Landscape 10.0, which has been driven by the needs of our members,”said Hans Tesselaar, Executive Director, BIAN. “As we look to the new year, the financial services sector must focus on becoming more agile and aligned to the needs of the customer. The availability of Service Landscape 10.0, combined with the results of our Coreless banking platform, will allow the industry to do this through innovation and their ability to bring new services to market more quickly and efficiently.”
Established in 2008, theÂ BankingÂ Industry Architecture Network (BIAN) is an independent, member owned, not-for-profit association, designed to build and promote a common architectural framework forÂ bankingÂ interoperability issues.Â BIAN’s goal is to define operability and semantic definitions for IT services in theÂ bankingÂ industry. The community of over 80 members focuses on creating a standard semanticÂ bankingÂ 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.