New members highlight the increasing importance of banking standards across the global financial services industry
20th April, Frankfurt – BIAN, the independent not-for-profit, is today announcing the 24 new members that joined the organization over the last year, bringing the total number of members to 84.
BIAN will now benefit from the expertise of Lloyds Banking Group, Axis Bank, KPMG, McKinsey & Company, Standard Bank, The Thai Bank Association (which represents 15 Thai banks), TDBank, Cassa Centrale Banca, Handelsbanken, Habib Bank, allitude, Mambu, KU LEUVEN, TBM Council, Laurentian Bank, TMaxFintech, Kalele, Cloudera, AmBank, Fairplay, National Bank of Canada, OTP Bank, Naehas and Live Tiles. The newest members further expand BIAN’s global footprint and highlight the organization’s growing influence across the industry.
This growth follows a period of momentum for BIAN, which recently announced its Open-Source Specification tool. The new tool gives members access to a set of message definitions made freely available for modification and redistribution. The technology has been developed to further BIAN’s Coreless Banking Initiative, which promotes a more composable approach to modernizing banking software.
Over the last year, BIAN also updated its Service Landscape by adding 60 new business scenarios for syndicated loans and enriched 60 APIs by linking them to its Business Object Model.
“BIAN is a member-led association that relies on successful industry collaboration to thrive; therefore, I am extremely proud and excited that we’re being joined by these organizations”, said Hans Tesselaar, Executive Director, BIAN. “The expertise of our new members will help to further our cause and reduce the common obstacles that the industry faces around interoperability. I can’t wait to see what we achieve over the next year.”
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 microservices architecture.
Financial institutions, software vendors, and system integrators, along with technology partners and consultancies, are invited to join the association and play a collaborative role with other industry leaders in defining, building, and implementing next-generation banking platforms.