Why the BIAN Framework is Becoming a De Facto Standard in 2016

As we start 2016 it is clear that the BIAN Framework is quickly becoming the Leader in Banking Frameworks.

What Evidence is there to support this statement?

1.) Membership continues to Grow with the announcement in December 2015 by BIAN that they added five more members that included Discover, Oracle, HP, and two foreign banks, SIAM Commercial & Sicredi Bank. This brings the total number of members to 23 Financial Institution Members and 38 Vendor, Services, and University Members.

2.) I meet with IBM Banking and Financial Services Architecture Leads recently in NYC to discuss BIAN and how IBM is modeling their Banking solutions in alignment with the BIAN Standard. They confirmed that IBM is strongly engaged and supporting BIAN within their Banking Offerings, including API Economy, Cognitive Banking, Banking Data Models, and Smarter Process Offerings. IBM also mentioned that a new BIAN working group was formed to focus on the API Economy & SOA areas of BIAN. As this area of work evolves, new opportunities exist for Global Service Providers to begin offering Cloud-based services to Banks to allow them to outsource portions of their operations, such as Collections, Customer Service, Customer Insights, Customer Communications, in a Private Cloud that allows both the Service Providers and Banks real-time access to data in both systems.

3.) A handful of North American Banks and Financial Processing Merchants have not only joined the BIAN Membership, but have also begun POC's for deploying portions of the Framework into Production in the near future.

I think it is clear that there are many Benefits associated with BIAN’s strategy for Standardizing the Financial industry. If your organization is beginning to Invest in the "Bank of the Future" or is looking to begin exposing Bank services to external customers, partners, or vendor applications, you really should be rigorously researching the BIAN Framework.

For more information on Bank of the Future, BIAN Framework, or IBM Solutions please reach out to Prolifics Financial Services Advisory at solutions@prolifics.com.


Previous Blog Topics

Read more about the BIAN Framework in these previously published blogs:

 


Future Blog Topics

Check back to learn more about the BIAN Framework in these future blog topics:

  • BIAN - How can BIAN Reduce Costs for Bank
  • BIAN - Implementation using IBM Technologies

 


Troy Dube

Troy Dube
Advisor, Financial Services – Advisory & Consulting Group

Troy Dube is a Senior TOGAF Certified Architect with 20 years of technology experience related to architecture, software development, program planning, and project delivery. He is an expert in architecture and solution design in the financial industry with a focus on consumer banking, wealth management, and back office operations. Troy also has deep cross-industry experience in the healthcare, travel, education, and automobile technology sectors. Troy provides technical strategy leadership while mentoring solution architects, project managers, business systems analysis, and development leads on technology standards and the software delivery life cycle to ensure programs and projects are in compliance with the corporate direction.