Tech

Sibos 2021: BIAN releases upgraded digital core banking platform

The Coreless Bank platform is designed to help firms modernise their core banking infrastructure.  ...

The Banking Industry Architecture Network (BIAN) has launched the second iteration of its Coreless Bank platform as it looks to help firms modernise and digitise their core banking infrastructure.

BIAN executive director Hans Tesselaar

The firm says the platform has been designed to “overcome the common obstacles” associated with upgrading core banking operations.

Developed alongside the likes of DXC, IBM-Redhat, JP Morgan Chase, PNC, Salesforce, Tata Consultancy Services, Thought Machine and Zafin, it aims to reduce the friction associated with selecting software vendors and allow banks to deliver digital-first services at speed and scale.

The initiative was first launched back in 2019 in collaboration with an 11-strong association of BIAN members, including Wells Fargo, Citi, JP Morgan Chase, IBM, Bangkok Bank, Infosys, and CIBC.

BIAN says the pandemic stress-tested many banks as legacy infrastructure struggled to keep up with shifting consumer demands.

Executive director Hans Tesselaar adds: “To meet the needs of the modern customer, banks need to assess their current core banking structure and determine how they can bring new services to market both quickly and efficiently.”

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