The Banking Industry Architecture Network (BIAN) has introduced new tools, designed to facilitate the adoption of its standards by simplifying compliance and implementation processes for developers and architects.
An independent not-for-profit standards association, BIAN is collaborating with members to enhance productivity through these solutions.
The API Align tool, one of these additions, promises to assist developers in identifying the most suitable APIs for their projects.
BIAN’s API Align tool is set to revolutionise how developers and architects match their internal APIs with BIAN’s standards, offering scoring, alignment, certification, and AI-driven recommendations.
This tool is part of BIAN’s broader initiative to embed these resources into major platform providers, including Microsoft. The integration of these tools into such platforms will enable banks to more efficiently create, develop, and integrate BIAN-compliant APIs and code objects.
This initiative arrives at a critical juncture, as a McKinsey report highlights banks’ tech spending at around 10% of revenues, contrasted with a year-on-year productivity decline of 0.3%.
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By adopting BIAN standards effectively, banks can maximise the value from their tech investments, integrating cutting-edge technologies and replacing outdated systems to better meet customer expectations.
Moreover, the Business Scenario Designer (BSD) tool will allow users to select relevant BIAN Service Domains and develop workflows that adhere to BIAN standards.
The BSD offers an intuitive process modelling tool with templated processes to save time and foster collaborative projects. Users will also have the opportunity to contribute to template development, ensuring broad applicability and customisation.
As BIAN continues to refine these tools with member input, further innovations are expected over the next 12 months.
Since its inception in 2008, BIAN’s mission has been to define operational and semantic standards for IT services in the banking industry. It has a community exceeding 100 members.
BIAN executive board chairman Steve Van Wyk stated: “The new BIAN tools enable developers, architects and business decision makers to leverage our standards more effectively. We will start to see much greater development, adoption and usage of standards-based integration with these tools, lowering the costs of integration and enabling more banks to embark on digital transformation projects.”
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