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Since international software provider FERNBACH-Software joined the independent industrial association BIAN (Banking Industry Architecture Network) in 2008, their work has come a long way. FERNBACH is not only the Chairman of the Lending working group but has also worked with SAP and other working group members to prepare the first set of deliverables.
Together, FERNBACH and BIAN aim to simplify implementation of SOA (service-oriented architecture) and to strengthen interoperability between individual software modules. Existing standard technologies and specifications will be used to create a comprehensive framework for specialised semantically defined services for the banking industry. This framework will in turn directly influence FERNBACH’s FlexFinance® Lending solution.
The BIAN working groups distinguish between three specification levels for developing complex functions. The Lending working group has already specified the sub domains on level 1 identified within the BIAN Service Landscape. They contain the Offer Management and Agreement Management functionalities. Currently, FERNBACH is working with working group members on preparing the results for publication.
The working group has also begun working on level 2, which entails the definition of service operations. As part of its work on level 2, FERNBACH has already defined a number of use cases as well as various service operations. The first draft of the Lending-specific business object model has been initiated and is due for completion by the end of the 3rd quarter 2010. The draft will clarify the data-oriented correlations within the Lending domain itself as well as their dependence on further domains in the BIAN service landscape.
The cooperation between BIAN and FERNBACH is extremely beneficial for both parties. BIAN members benefit from FERNBACH’s years of specialised knowledge and experience surrounding the FlexFinance® Lending solution. And the work on the BIAN standardization process has a direct influence on product development at FERNBACH. This means that all product components are structured in compliance with the BIAN service landscape. The increased transparency that standardisation will achieve will also reduce both the costs and risks currently inherent in implementation.
The steady progress in developing the three levels will benefit FlexFinance® users. Their investments and plans will first become more secure and, thanks to increased operability, they will be able to reuse functions in heterogeneous system environments. This development will drive achievement of the goal of SOA implementation across the entire financial services market.
“FERNBACH has made important contributions to SOA implementation in banks and to the advancement of standardisation,” said Günther Fernbach, CEO FERNBACH-Software. “After putting together a rough outline of the responsibilities, we are moving towards specification of the last two levels of the Lending working group. We are very excited and each new development and publication brings us one step closer to our goal of enabling SOA adaptation for all banks with minimal effort and risk.”
At the BIAN Banking Summit in London on June 1st, Bruno Bonati, Executive Director of BIAN, reiterated how dependant BIAN is on the invaluable contributions of all member organisations to the creation of the deliverables. “SOA is driven by both business and IT to reduce project spend, particularly with regard to integration costs”. Based on experiences from leading banks, integration costs make or break the business case in building or implementing new applications. Standardisation of interfaces will help to significantly reduce integration efforts.
