Today, VeriPark announced its membership of standards organizations BIAN (Banking Industry Architecture Network) a non-profit group looking to reduce integration costs for banks, through the creation of consistent service definitions in a service-oriented architecture.
With the majority of banks joining the BIAN community, VeriPark has seized the opportunity to combine it's industry expertise, to define a revolutionary banking technology framework that standardises and simplifies core banking architecture, leading to enhanced architectural agility and strong adoption skill to fast-changing banking ecosystem. VeriChannel from VeriPark which offers a secure, unified platform that empowers organisations to manage seamless, consistent and engaging customer journeys across multiple customer touchpoints, including web, mobile, kiosks and ATMs will be the first solution that will be standardised based on BIAN Open Banking standards. VeriChannel omni-channel banking solution users across the globe also will be able to use VeriPark's standardised connectors to provide feature free API's to third-party developers to build applications and services.
"The possibilities created by mixing up APIs, financial data and other tech are endless. Open banking could benefit consumers with new insights that help people and businesses manage their money, gain access to products they may not have had before as well as new products that were not previously available. Services could be more personalised or tailored to the individual's behaviours and lifestyle. Based on this, VeriPark is committed to the use of open banking and payment standards which is provided by BIAN. By joining BIAN, we are building on our participation in the development of internationally standardised solutions. The banking industry architecture network will provide a BIAN Certificated Solution to community through the adaptation of the VeriChannel Omni-Channel banking solution." Added Özkan ERENER, CEO of VeriPark.
"We are delighted to welcome VeriPark in our vibrant community of banks, solution providers, consultancies and academics. VeriPark adds great value to our initiatives of integration and interoperability in the industry, sharing their in-depth knowledge. The problem at the moment is that everybody in the industry is defining its own set of APIs, thereby hindering connectivity, which sort of defeats the object of PSD2: openness and transparency with data. Only a limited set of participants in the Financial Services Industry are aware of the value of a universally adaptable reference model or taxonomy to lay out clear standard definitions for all the various banking business functions. Without such a model, it's almost impossible for the industry to visualise the different information flows within all the banking capabilities within their model, let alone interpret how these are connected and which should be taken up for API enablement. Therefore the participation of well-established and innovative organisations like VeriPark is essential for the success of the BIAN initiatives". Said Hans Tesselaar, Executive Director of BIAN.
VeriPark works with clients to develop contemporary technological strategies and solutions that address specific business needs and challenges, bringing the promise of digital transformation to life. VeriPark solutions enable clients to acquire, retain and service customers quickly, reliably and cost-effectively by accelerating the deployment of transformative customer and employee experiences. The digital innovation and consultancy services are transforming business worldwide for banks, credit unions, insurance companies, pension funds, brokerage and wealth and investment firms. Operating worldwide, VeriPark has established offices in the UK, Europe, Asia, the Middle East and Africa.
Since being established in 2008, BIAN has been a self-governing, not-for-profit association created to develop and promote architectural models for banking interpretation issues. With the focus being on the creation of semantic banking landscapes, the level of detail and boundaries helps banks to gain reduced integration costs through a service-orientated discipline. See www.bian.org