Portland, Maine (PRWEB) November 11, 2014
Northcross Group (NCG) has joined the Banking Industry Architecture Network (BIAN), a not-for-profit association dedicated to building a banking technology standard. In collaboration with industry participants, BIAN aims to define and set the de facto IT standard for banking interoperability services.
NCG, a trusted consultative and professional services firm for North American Financial institutions, will use its expertise in core banking systems, analytics, and security to help further enhance BIAN’s banking IT framework. NCG is joining BIAN’s member base of 53 leading banks, service providers, software vendors and academic partners.
Centered on a service oriented architecture (SOA) principle, the BIAN banking IT standard identifies all business capabilities and their interactions across global financial institutions, based on standardized semantic definitions supported by a unique set of business scenarios. The ultimate goal is to reduce IT landscape complexity, enabling banks to renew their existing technology systems and respond faster to the changing industry environment.
“Financial institutions face a number of challenges ranging from how revenue is generated, the interaction model with customers, regulatory oversight, information security threats, and non-banking entrants into traditional banking services. These factors are causing financial institutions to evaluate their infrastructure for stability, scalability, and performance for today and into the future,” said Chris Bender, NCG President.
Bender continued, “The BIAN framework is a recognized developing standard that will help financial institutions better prepare and integrate enhanced capabilities without putting current service delivery at risk. The BIAN architectural framework provides the foundation for building organization specific blueprints and interoperability methodologies that can make integration challenges more manageable and increase agility. We at NCG are very much looking forward to contributing our core banking, data management, and information security expertise to the ongoing BIAN development efforts.”
Hans Tesselaar, Executive Director of BIAN commented: “BIAN is expanding rapidly, with members spanning every continent; we are proud to introduce NCG to this growing network of banks, software vendors, service providers and academic partners.
“The financial industry is changing at a rapid pace internationally, presenting a number of IT challenges to banks and financial institutions. By developing a standardized IT framework that separates pre-defined services into core IT building blocks, BIAN supports financial institutions to gradually implement transformative technology change, while significantly reducing IT integration costs.
“NCG’s core banking transformation expertise will greatly support BIAN’s existing members as they work together to build a global banking IT standard.”
About Northcross Group
Northcross Group (NCG) is a management and technology consulting services firm specializing in integration and security. Incorporated in 2006, NCG has offices in Portland, Maine and Arlington, Virginia. NCG delivers highly complex initiatives bridging between technology and business to maximize ROI, ensure security, and compliance in highly regulated environments. NCG provides system and security services in the public and private sectors including financial services, healthcare, energy, and manufacturing. For more information about NCG, please visit http://www.northcrossgroup.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 a 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. To learn more about BIAN, please visit: http://www.bian.org.
BIAN Members: ABN AMRO, Achmea, Allshare, Asseco Group, Axxiome, Banco Galicia, Bangkok Bank, Capgemini, Capital Banking Solutions, Carnegie Mellon University, CIBC, CGI, Cognizant, Commonwealth Bank of Australia, Commercial Bank of Qatar, COREtransform, Credit Suisse, CSC, DBS, Deutsche Bank, Deutsche Postbank, Diasoft, Erste Group, EVRY, EY, FERNBACH, First Niagara Bank, FIS Global, HCL, IBM, IDRBT, ifb group, Infosys, ING, innobis AG, KB Bank, KfW Bankengruppe, Microsoft, NOMURA, Northcross Group, Nucleus Software, PNC Financial Services Group, Rabobank, SAP SE, SCI Tanzania, Singapore Management University, Société Générale, Sopra Banking Software, SunGard, SWIFT, TCS Bancs, Temenos, UBS, UniCredit Group.