46
Q & A Onwards and upwards
Interview by Alex Hamilton
The Banking Industry Architecture Network (BIAN) was founded in 2008 as a not-for-profit organisation focused on banking interoperability. Misys signed on in June. IBS Journal sat down with Hans Tesselaar, Executive Director at BIAN, pictured on page 46, and Alex Kwiatkowski, Senior Strategist for Banking and Digital Channels at Misys, pictured on page 47, to discuss Open Banking
BS Journal: Why are open standards and Open Banking good for banks, especially as many are
I cutting their costs?
HT: If, without any standards, you want to integrate an off- the-shelf product, you have to buy it then pay an additional fee to get it integrated. You don’t really get any extra value for that money spent. If you can lower the cost of that
integration, the money that you save can be used for better products and services of lower your costs. If the industry can agree on a standard strategy for [a bank’s integration] then it will create huge financial benefits but also a faster time to integration. It won’t take that long to add new products and services to your line, either.
Before 2008 this wasn’t much of an issue, there was so much money for banks that they couldn’t care less. Now we see there is a complete reverse of the situation. CIOs and CEOs have to deliver more and more for less and less money. The way out is to standardise.
AK: It’s a natural evolution in the industry. What we saw through the 70s and 80s was the advent of ever- more advanced computing systems in banks, which were deployed as their core systems. In the 90s that continued but now has lost steam a little. We’re now in an environment where legacy technology is increasingly becoming an impediment. Systems are being asked to do things they weren’t designed for. Over the past 10 years we’ve seen technology become a handicap along with the things that Hans has mentioned.
We’ve been in a more challenging environment these past years. Banking has found itself at something
www.ibsintelligence.com © IBS Intelligence 2016
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52
