Full Impact Of BIAN's Semantic Specifications Requires Compliant, Off-The-Shelf Solutions

BIAN — the Banking Industry Architecture Network, a nonprofit organization working on definitions of semantically standardized business services for banking — has worked on semantic specifications of business services for the banking industry for a couple of years. Next to being a tool for communication and enterprise architecture, potential benefits of BIAN deliverables include ease of integration, improved interoperability, lower cost, and shorter implementation times. To make these benefits real requires market-available banking software solutions that comply with BIAN specifications. Based on discussions with selected BIAN vendor members, this report provides insights into the vendor side of the BIAN initiative. It answers important questions about the objectives vendors intend to reach with BIAN, how they use BIAN deliverables today, and how they intend to use them in the future, after the full availability of BIAN's service landscape.