The Banking Industry Architecture Network (BIAN), an Open Banking standards association, has announced 29 new members; including Wipro, Deloitte consulting and US Bank.
The BIAN, founded in 2008, is an independent organisation aimed at promoting common standards for Application Programming Interfaces (APIs) and technical architecture in the banking industry.
The community of over 80 members focuses on creating a standard semantic banking services landscape, while ensuring consistent service definitions, levels of detail and boundaries. It is aimed at helping banks to achieve a reduction of integration costs and take advantage of a micro services-based architecture.
The new members announced today include: US Bank, Banco de Credito del Peru, Bank Leumi, SPD Bank, UOB, CC&C Solutions, Knowis, Deloitte Consulting, SunTec Business Solutions, Technisys, Wipro and ServiceNow.
BIAN attributed the growth in global memberships to the growing recognition of the role of standards in Open Banking and digital banking processes.
The association said the industry is now looking to expert groups and networks to help provide a jumpstart to offer modern services in the quickest, safest and most cost-effective way possible.
Hans Tesselaar, executive director at BIAN, said: “Open Banking has become a globally recognised phenomenon these past two years.
“It has even changed our focus as an organisation – from being entirely dedicated to building bullet-proof global banking standards, to being a leading developer of high-quality API microservices that banks and other financial institutions can use.”
Rakinder Sembhi, principal at Deloitte Consulting, said: “The work that BIAN has done over the last several years, is testament to the fact that the future of the banking sector rests upon the need for collaboration across banks and the banking ecosystem.
“As the sector continues to change at a rapid speed, we must work together to ensure we are able to provide technology enabled capabilities that are built for the future.”
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