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Tesselaar has more than 30 years experience in the financial services industry, having been active for banks, insurance companies and pension funds. For eight years he worked at different management positions within ING, from chief architect to director sourcing, innovation and governance. He has special areas of knowledge such as people development, re-organisations, re-structuring of the labour force, negotiating with labour unions and workers’ councils. As a managing partner of an ICT consultancy firm specialising in financial services, he has long-term experience in areas of expertise such as strategic business planning, enterprise architecture, HR development and innovation.
Tesselaar says: “A key topic that shone through at SIBOS this year was the idea of collaboration and the coming together of participants in the financial ecosystem. This year, we saw many more fintech companies present and even a dedicated ‘FinTech Theatre’ showcasing the most promising new businesses. When it came to the agenda, we saw presentations entitled ‘Why startups and financial institutions need each other’ and ‘Collaboration at the core of revolutionising cross-border payments’. It’s clear that working together is the future, which is an important realisation to come to in light of PSD2, which will revolutionise the space. And the journey to cloud usage in the banking industry depends completely on collaboration.”
Comprehensive solution
Based on an SOA, BIAN’s standards saw the number of defined business scenarios, for which the BIAN model can be used, jump recently from 190 to over 700. The latest release also incorporates new features, allowing it to be fully translated across the industry.
Defined through the collaborative input of more than 60 leading banks, technology vendors and consultants, the model provides a simplified but comprehensive solution to enable financial institutions to innovate at pace without the costs and complexities that come with legacy banking technology.
“Our aim is to help our members reduce their integration costs and increase interoperability abilities,” says Tesselaar.
BIAN members have collaborated closely to build new tools to make the standard as accessible as possible to financial services institutions across the globe. This includes a tool to enable both members and non-members to instantly view the business scenarios linked to each unique Business Capacity (Service Domain) – making the service landscape completely three dimensional for the first time.
Tesselaar says: “It’s great to see that organisations are beginning to realise that collaboration will be the key to success in a post-PSD2 world. However, in order to truly embrace and maximise on what the new directive could truly offer, banks need to be working on a standardised, capability-based infrastructure. The implementation date for PSD2 is now upon us and, as of this year, banks will need to be able to provide third parties, such as fintechs, with access to customer accounts via APIs. This will allow those third parties to build their own services on top of a banks’ data and infrastructure.
“When this happens, the government’s aim of boosting competition should be realised within the financial space. We’re likely to see fintechs and startups building on the banks’ data to create and provide new services, one of which could be the creation of comparison sites for banking services – much like we see for insurance and flights.”
In addition, BIAN is working with a series of partners to ensure that the language used to define the BIAN Model is translatable, whatever architecture language the financial services enterprise relies on. New measures to support this include making the service landscape suitable for ArchiMate (a common architecture language) as well as UML (the current language deployed by BIAN). The new standard is called SL 5.0.
There are also major improvements on the integration of a comprehensive Business Vocabulary. This vocabulary is based
BIAN OFFERS ITS MEMBERS ASSISTANCE IN…
• Standards: a definition of IT standards for SOA in banking ensures the highest degree of efficiency. Standards do not mean that everything is identical though. They simply form the foundation for future oriented services that offer a maximum level of flexibility in the banking industry.
• Agility: standards provide the greatest opportunity for banks to adapt quickly and efficiently to changing market conditions and demands.
• Flexibility: interoperability between IT systems through widely agreed standards ensures the highest degree of efficiency, by enabling banks to quickly adjust to meet changing needs and new challenges in a constantly evolving industry.
• Evolution: change is a constant, also in business, which includes banking and IT. BIAN members from the IT industry who actively participate in the evolutionary process of the banking industry will also find themselves better positioned as their own markets evolve.
• Cost reduction: it is safe to say that all businesses would agree that increased flexibility in their operations, the ability to adapt and react efficiently to change, and the important of maintaining a future oriented approach to their industry and business model are beneficial. The reason is simple. All of these aspects serve to reduce costs while simultaneously improving service. BIAN thus considers cost reductions of the primary goals of its efforts.
www.ibsintelligence.com | © IBS Intelligence 2018
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