Standardised Industry IT Model Facilitates Banking Transformation
Zafin, the leader in relationship banking software encompassing Product and Pricing Lifecycle Management for the financial services industry, is pleased to announce that it has joined the Banking Industry Architecture Network (BIAN).
“Zafin is proud to join BIAN at this critical juncture of financial technology innovation where retail and business customers are demanding cloud, mobile, analytics, and social media services”
BIAN’s standardized IT framework consists of pre-defined (SOA) services which are core IT building blocks with identified links between them. It allows financial institutions to adapt to constant business and regulatory changes, and to support gradual strategic transformation while controlling integration costs.
“Zafin is proud to join BIAN at this critical juncture of financial technology innovation where retail and business customers are demanding cloud, mobile, analytics, and social media services,” said Dinesh Krishnan, Managing Director, Global Product Development at Zafin. “As a member of the BIAN consortium, we hope to contribute Zafin’s Product and Pricing expertise to the cost-effective transformation of banking IT architecture within financial institutions and interoperability between them,” he added.
Hans Tesselaar, Executive Director of BIAN and a Zafin Board Member, said: “Adding Zafin to the community of 58 leading financial institutions, software and service providers, as well as IT giants, will enhance BIAN’s ability to achieve a consensus-based approach to a standardised banking IT architecture and meet Industry objectives of increased agility and reduced cost.”