BIAN industry alliance releases first SOA standards

The Banking Industry Architecture Network (BIAN) industry coalition between 23 major technology vendors and banks has released first Services Oriented Architecture (SOA) standards. These IT services standards will be the first after BIAN was spun out of SAP a year ago.

These standards are related to deliverables for Metamodel, Payment Agreement, Clearing and Settlement, Service Landscape, Service Lifecycle Management, Payment Execution and Service Repository. The Metamodel and Service Landscape standards have found agreement among the banks and vendors of information systems to banks. This provides an opportunity for banks to replace inflexible legacy environments and create IT, resulting in business agility and reduced integration costs. Adoption of semantic industry standards will improve interoperability among banking services and application providers.

Deutsche Bank, Deutsche Postbank, Credit Suisse, Zurcher Kantonalbank, ING, and Standard Bank are the founding members of BIAN. This alliance concentrates on implementation of SOAs within the financial services industry through shared domain and technical expertise.