Press Room

BACKGROUND

In a context of increasing competitive and regulatory pressures, increased ‘agility’ has become a strategic objective for many banks. It is now widely accepted by both banks and their suppliers that SOA holds the key to empowering people in business and IT to deliver on that promise. When it comes to information technology, banks do generally lead the way. However when it comes to standardisation, there is still a long way to go. As a result banks often have difficulties implementing a SOA strategy in a cost-effective way and in line with business priorities — the cost of integration remains a major obstacle.

Given this situation, the Banking Industry Architecture Network (BIAN) was founded in April 2008 to accelerate the adoption of Service Oriented Architecture (SOA) in the banking industry by promoting convergence towards a common services landscape and semantic standards which makes it easier and more cost-effective to integrated such services.