Global banking IT group completes standardised IT architecture

The Banking Industry Architecture Network (Bian) has announced its standardised global IT architecture for banks

The Banking Industry Architecture Network (Bian) has announced its standardised global IT architecture for banks after completing a project designed to make the replacement of core banking systems simpler.

The Bian Service Landscape 4.0 identifies the standard capabilities of banks and interdependencies of systems. Although no UK banks are members of the group, the development could provide lessons to UK banks hamstrung by complex and inflexible legacy systems.

Bian is a not-for-profit organisation that promotes common banking architecture, with a membership split 50:50 between global banks and IT suppliers. 

It includes European organisations Deutsche Bank, UBS, ABN Amro and Société Générale, as well as banks in regions including North America and Australia. IT suppliers Microsoft, Infosys, Tata Consultancy Services and SAP are also members.

Banks have large numbers of systems performing business processes which use the same information. This has created complexity and made it difficult to replace one system without having an affect on another.

Read more about Bian

Bian’s standard has identified almost 2,000 examples of business systems sharing information.

The standard will support banks in using application programming interfaces so different pieces of software can interact. It moves away from an approach that has seen core banking IT built in silos.

“Bian members have worked tirelessly to develop this global banking IT standard that will support banks to overcome legacy IT issues and drastically cut the cost of technology integration. To have finalised the model ready for implementation into banks around the globe is a momentous occasion," said Bian executive director Hans Tesselaar.

"By implementing this on a worldwide scale, banks will be able to develop and on-board innovative technology offerings without battling through ageing or tangled enterprise architecture, and at lower integration costs.”

CIO at US bank PNC, Steve Van Wyk, said in the future the bank will need a core banking platform with agility, speed to market and speed to adapt.

“The only way for that to happen is if we collaborate on an industry standard such as Bian,” he said.

Read more on IT for financial services

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