The Banking Industry Architecture Network (BIAN) has confirmed four new members:
Dutch bank ABN AMRO, Argentinean Banco Galicia, Swiss UBS and France’s SAB.
BIAN members work together to define IT standards for banking interoperability and set up the Service-Oriented Architecture (SOA), with the purpose of reducing banks’ expenditure through IT integration, which are as much as triple the purchase costs of the original software.
As different business units continue to overlap, especially in the areas of trade finance, treasury and cash management solutions, an integrated and seamless IT system is crucial for optimal operating results for banks, Hans Tesselaar, executive director at BIAN told EPIin April.
“BIAN looks forward to working closely with each of the standard 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,” he said.
Henk Houtzager, head of strategy, innovation & architecture, ABN AMRO, said that “increasing agility and reducing costs are priorities” for ABN AMRO. He added: “We expect to achieve significant reductions in integration costs through our BIAN membership.