Misys, First Horizon and Al Rajhi Bank join BIAN
The Banking Industry Architecture Network (BIAN), a not-for-profit fintech industry body, has added three new members to its global network. These are Misys, First Horizon and Al Rajhi Bank, the world’s largest Islamic bank.
The total count of BIAN members now stands at 64, comprising banks, software and service providers, and academic partners.
Hans Tesselaar, executive director of BIAN, notes: “BIAN’s working model is focused on solving a critical issue in the financial services industry: 65% of banking IT budgets are currently being spent on integration – budget that could be spent on providing a better service for customers.”
BIAN: fact file
- BIAN was originally founded by SAP in 2008. It later became a completely independent, member-owned, not-for-profit organisation.
- Its aim is to define and set the de facto IT standards for banking interoperability services.
- Last year, BIAN brought to market its most complete Service Landscape – a set of common IT standards for the banking industry. It is a result of a seven-year effort.
- Service Landscape 4.0 spans all areas of a universal bank, covering around 2,000 service operations. This represents a big leap from the previous 375. Service Landscape 4.0 is ready for use by banks worldwide.
- BIAN members are financial institutions, software vendors and system integrators.
- Banks (except federal and central bank) and other financial institutions can join BIAN for an annual membership fee of €20,000.
- Federal banks and central banks are charged an annual fee of €10,000.
- Software and/or technology service providers with more than 249 employees pay an annual membership fee of 30,000,00. Smaller vendors (less than 249 staff) are charged 10,000 per annum.
- BIAN members in the banking space include big names like ABN Amro, ING, UBS, UniCredit and Credit Suisse.
- In the vendor community, BIAN members include ACI, Avaloq, IBM, EY, Fiserv, Microsoft, Swift, SAP (the founding member) and Temenos, among others.
In a recent edition of the Banking Technology magazine, BIAN’s Hans Tesselaar explored the idea of platformification. What is it and why do banks need to know about it? Click here to read more.