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BIAN updates guidelines to encourage API development

The Banking Industry Architecture Network (BIAN) has updated its global IT architecture model. Service Landscape 6.0 (SL6.0) includes definitions for 26 new types of API.

SL6.0 adds API identifiers like Execute Customer Onboarding” and “Customer Offer for Consumer Loan”, which it claims will provide banks and developers with “consistent guidelines” for creating and implementing APIs.

BIAN stated that the new guidelines will create instant benefit for companies in the UK, following the implementation of Open Banking rules in January. It added that development costs will be reduced, making market entry easier for startups and development teams.

“The updates in SL 6.0 will be important in helping the financial services industry to deliver on its open banking requirements, making it easier for the industry to get on the front foot of innovation and deliver better services for the cohort of increasingly tech-savvy customers,” said Hans Tesselaar, executive director of BIAN.

“As the EU banking environment evolves, it is likely other regions will take note, sparking the drive towards a high quality, efficient global open banking standard.”

Steve Van Wyk, executive vice president and head of technology at PNC financial services, added: By creating a model for banks to understand how critical technologies such as BIAN compliant APIs and micro services can be built and implemented into their existing IT infrastructure, BIAN hopes to speed up industry innovation, and help the Banking Industry deliver more differentiating customer experiences in a smarter more relevant way.”

IBS Journal interviewed Hans Tesselaar for our February edition’s “Big Interview”.

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