BIAN, the independent not-for-profit standards association, has unveiled Coreless Banking 3.0, an API-based services architecture aimed at addressing banks’ interoperability challenges. This iteration builds on BIAN’s previous model, which included semantic APIs and data schema to enable banks to develop new services quickly. Coreless Banking 3.0, developed in collaboration with HSBC, TCS BaNCS, IBM, Zafin, Salesforce, JPMorgan Chase & Co, Envizion, and Sngular, puts the customer at the center by allowing banks to retrieve customer consent to access their data held with other banks. The solution gives banks a comprehensive view of a customer’s financial position elsewhere, enabling them to offer tailored products. David Bagge, Chief Enterprise Architect at HSBC, emphasized that Coreless Banking 3.0 will help deliver stronger customer value and enhance technology updates at a faster and cheaper rate. BIAN’s Executive Director, Hans Tesselaar, stated that the Coreless Banking concept is designed to support banks in transitioning to meet evolving customer demands. BIAN will showcase an overview and demo of the Coreless Banking platform at the SIBOS event. BIAN was established in 2008 as an independent association focused on creating a common architectural framework for banking interoperability. It aims to define interoperability and semantic definitions for IT services in the banking industry, fostering a reduction in integration costs and the adoption of microservices architecture. Financial institutions, software vendors, system integrators, and consultancies are encouraged to join BIAN in shaping the future of banking platforms.
Follow crowdfundingmagazine on Instagram: @crowdfundingmagazine_it