The global bank brings an international perspective to the not-for-profit organisation
13th April 2021, London and Frankfurt – BIAN, the independent not-for-profit, and HSBC today announce that the global bank has joined the organisation to help develop its IT architecture through the use of common standards. By tapping into the industry collaboration offered by BIAN’s members, HSBC will be able to focus on priorities that will best serve its customers’ needs both now and in the future.
HSBC is one of the world’s largest banking and financial services organisations. It serves more than 40 million customers across 64 countries globally, and is digitising at scale to open up opportunities around the world for its customers, while transitioning to a net zero footprint.
As the financial services industry continues to adapt to new and existing regulations, banks like HSBC with worldwide coverage, need to ensure their systems are highly-resilient, operate at scale and are able to deliver change at pace.
Attracted to BIAN because of its comprehensive industry reference models, openAPI exchange and proof-of-concept projects, such as the coreless banking initiative, Dan King, Chief Technology Architect at HSBC, said, “The continuous improvement of our IT architecture is a crucial enabler of excellent customer experience and growth. Our customers come first, and keeping up with their needs is essential and highly-dependent on our IT systems. One of BIAN’s main selling points is its coreless banking initiative, which promotes a more efficient and effective approach to modernising banking software. This initiative is incredibly interesting to us, as we look to future-proof our technology architecture.”
Due to the scale of its business, HSBC brings a wealth of perspective to BIAN. HSBC has collective knowledge of many technologies and techniques, meaning that BIAN’s members can benefit and learn from their experience. BIAN will also benefit from HSBC’s international perspective and regional knowledge.
Hans Tesselaar, Executive Director of BIAN, said, “We’re proud to welcome HSBC to our growing organisation. As we continue to drive innovation across the industry, our members will undoubtedly benefit from HSBC’s wealth of experience and expertise. Collaboration is truly key to the success of our industry, and I look forward to our future, with our members by our side.”
Steve Van Wyk, Global CIO at HSBC, said, “As the chair of BIAN’s Executive Board, I am hugely passionate about the role BIAN plays across the industry, and I am excited to welcome my colleagues at HSBC to the organisation. As an industry, we have common challenges, and by collaborating, we can overcome them to create an even more resilient and innovative sector.”
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.
Financial institutions, software vendors, and system integrators, along with technology partners, are invited to join the association and play a collaborative role with other industry leaders in defining, building and implementing next-generation banking platforms.