The Banking Industry Architecture Network (BIAN), which endeavours to create an open standards framework for core banking services based on a common service orientated architecture (SOA), has added four new members in ABN AMRO, Banco Galicia, SAB and UBS; and three new industry partnerships with ISO, OMG and The Open Group.
The deal with the International Organisation for Standardisation (ISO) gives BIAN ‘category D liaison’ status, covering ISO 20022 semantic messaging models in particular. Partnerships were also unveiled to work with the Object Management Group (OMG) and The Open Group. All the link-ups are intended to help BIAN take a step forward in its commitment to complimentary standards collaboration.
The addition of a Dutch, Argentinian and Swiss headquartered banks, plus SAB, a French publisher of integrated software packages takes the BIAN membership up to 31, comprised of 14 banks and 17 system integrators and software vendors. These industry participants collaborate to try to define and set the IT standards for banking interoperability, in order to help banks significantly reduce their IT integration costs, which the group says can be much as triple the purchase costs of some original software. Naturally, this common approach does, however, mean a reduction in internal proprietary bank IT initiatives.
Commenting on BIAN newest partnerships, Hans Tesselaar, executive director of the network, said: “It is BIAN's policy not to reinvent the wheel or replicate the work of existing bodies; this is why we seek cooperation with complimentary standards bodies. For example, where BIAN focuses on semantic service definitions, OMG Service Domain Task Force focuses on standards such as financial services business ontology and vocabulary, trade transaction traceability maps and financial business events taxonomy – there is little cross-over.
“BIAN looks forward to working closely with each of the standards bodies we have partnered with at both our own BIAN Core Team meetings, and our new partners’ initiatives, exchanging ideas in order to progress standardisation and interoperability in the financial industry. The door is open to other standards bodies to form partnerships with BIAN, as we strive for a truly collaborative approach to SOA standards in banking.”
Commenting on the Dutch bank’s BIAN membership, Henk Houtzager, head of strategy, innovation and architecture, at ABN AMRO, said: “Increasing agility and reducing costs are priorities for ABN AMRO and we expect to achieve significant reductions in integration costs through our BIAN membership. BIAN’s proposition not only defines the banking services landscape, but provides practical implementation guidance shaped by leading industry technology vendors.”
For the summer BIAN says its principal aim, apart from adding more members and standards partners, is to release its updated BIAN Service Landscape taxonomy.