Standardized industry IT model facilitates banking transformation
Vancouver, British Columbia (March 24, 2015) – Zafin, the leader in relationship banking software encompassing Product and Pricing Lifecycle Management for the financial services industry, is pleased to announce that it has joined the Banking Industry Architecture Network (BIAN).
BIAN’s standardized IT framework consists of predefined Service-Oriented Architecture (SOA) services, which are core IT building blocks with identified links between them. It allows financial institutions to adapt to constant business and regulatory changes, and to support gradual strategic transformation while controlling integration costs.
“Zafin is proud to join BIAN at this critical juncture of financial technology innovation where retail and business customers are demanding cloud, mobile, analytics, and social media services,” said Dinesh Krishnan, Managing Director, Global Product Development at Zafin. “As a member of the BIAN consortium, we hope to contribute Zafin’s product and pricing expertise to the cost-effective transformation of banking IT architecture within financial institutions and interoperability between them.”
Hans Tesselaar, Executive Director of BIAN and a Zafin board member, said: “Adding Zafin to the community of 58 leading financial institutions, software and service providers, as well as IT giants, will enhance BIAN’s ability to achieve a consensus-based approach to a standardized banking IT architecture and meet industry objectives of increased agility and reduced cost.”
To request an interview with a spokesperson or for more information, please contact:
Zafin is an award-winning provider of relationship banking software solutions to the financial services industry. As the market leader in relationship banking for Retail, Corporate, Wealth Management and Correspondent Banking, Zafin is transforming the way banks manage products, pricing, loyalty and billing across the entire client relationship.
Our flexible software suite, miRevenue, is a complete Product and Pricing Lifecycle Management (PPLM) platform – a “start-to-finish” view of the way banks bring products to market quickly and easily with a focus on revenue enhancement. For more information, visit www.zafin.com.
Established in 2008, the Banking Industry Architecture Network (BIAN) is an independent, member-owned, not-for-profit association, designed to build and promote a common architectural framework for banking interoperability issues. BIAN’s goal is to define SOA and semantic definitions for IT services in the banking industry. The community focuses on creating standard semantic banking services landscape, while ensuring consistent service definitions, levels of detail and boundaries. This will help banks to achieve a reduction of integration costs and use the advantages of a Service-Oriented Architecture.