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Banking industry Architecture Network (BIAN)

Presented by:Parimah Mohammadpour (New Product Development (NPD) Department Manager at SadadInformatics Corporation) 3rd National Conference on Advances in Enterprise ArchitectureSharif University of TechnologyNovember 12th, 2019 Banking industry Architecture Network (BIAN)Copyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupContents: A Review of the Prospects for the Future of Banking industry Some of the important Standards in Banking industry Moving towards Enterprise Architecture with a Service-Oriented Approach BIAN Introduction Design Principles & Techniques in BIAN BIAN's Organization and Content Development Approaches Applying the BIAN Standard in Banking industry Overview of BIAN Digital Repository Moving Towards Service-Oriented Enterprise with BIAN ApproachCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development

Development of security and compliance systems: With customer data becoming a ‘product’for many financial institutions, the need for enhanced security and advanced insights (AI) will become a differentiator from both a compliance and customer trust perspective. This can lead to reduced costs and potential business growth.

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Transcription of Banking industry Architecture Network (BIAN)

1 Presented by:Parimah Mohammadpour (New Product Development (NPD) Department Manager at SadadInformatics Corporation) 3rd National Conference on Advances in Enterprise ArchitectureSharif University of TechnologyNovember 12th, 2019 Banking industry Architecture Network (BIAN)Copyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupContents: A Review of the Prospects for the Future of Banking industry Some of the important Standards in Banking industry Moving towards Enterprise Architecture with a Service-Oriented Approach BIAN Introduction Design Principles & Techniques in BIAN BIAN's Organization and Content Development Approaches Applying the BIAN Standard in Banking industry Overview of BIAN Digital Repository Moving Towards Service-Oriented Enterprise with BIAN ApproachCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupA Review of the Prospects for the Future of Banking IndustryCopyright BIAN 2011 |

2 Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupDriving Forces and Current Challenges In BankingCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupThe Profound Darwinian ShakeoutCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupThe Profound Darwinian ShakeoutCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupRise of Specialist ProvidersAs banks lag on digital, convenience and value.

3 Specialists seize the opportunity to fill the gapsCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupThe Profound Darwinian ShakeoutCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupLeading Banks Become Digital Financial SuperstoresConsumers will soon have access to all of their financial needs from one central locationCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupBanking is Entering a Profound Period of ChangeClients expectations of what they want from their Banking provider are shiftingCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupTransformation Towards Digital Banking BankingClients2025 Thebankingclient2025isempoweredbydigital botsanddigitallyassistedclientadvisors.

4 BankingOperatingModels2025 Bankingoperatingmodels2025willbecharacte rizedbyintelligentautomation,cooperation ,andindustrialization. BankingRevenueModels2025 In2025wewillseeentirelynewrevenuemodelsi nbanking. DigitalBankingPlatforms2025 2025bankingplatformswillbeopenandinterop erableanddesignedfromfronttoback. Data-drivenBanking2025 Data-drivenbankingwillallowbankstodevelo pentirelynewbusinessmodelsandproductsand optimizetheirprocesses. BankingValueChain2025 Therewillbenoisolatedbankingvaluechainin 2025; BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupDigital Banking Models 2025 Copyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupWhat is a digital bank?

5 (Temenos sDefinition) AtTemenos,webelievethatbeingtrulydigital meansenabling experiencedrivenbanking . , , : CustomerExperienceThesumtotalexperiencet hatenablescustomerstoself-serve,inrealti me,viamultipledevices, ,contextualizedandpersonalizedcontentand offersattherighttimeandontherightdevice. Thefundamentaldigitalequation:A+B+C=D A=Anytime,anyplace,anychannel thisiswhatcustomersexpect. B=Betterbanking,beyondthetraditionalbank ingservice usingcustomers datatobecomeavirtualadvisor C=Contextual theservice,communication,rewardsandprodu ctsyouoffertomeetcustomers expectations,needstobedrivenbydataandana lyticsandpersonalizedtotheirrequirements . =D DigitalbankingCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development Group OmnichannelBanking.

6 The streamlining and integration of channels to ensure a positive and seamless customer journey across all potential touch points. Modular Banking . A systems Architecture that has interchangeable components that can react to market and institutional changes quickly. Open Banking . The ability to use open APIs to connect internal and external capabilities, building experiences that may extend beyond Banking services. Smart Banking . The use of advanced analytics to leverage data for personalized engagement and Pillars of Digital BankingCopyright BIAN 2011 | Banking industry Architecture Network AccordingtoresearchesfromAtos,thefourmos ttransformationalchallengesandopportunit iesforthefutureofbankingthroughthenext5y earsinclude: ,therecanbeasignificantbenefitinrevenues ,costreductionsandcustomersatisfaction.

7 Optimizationofcosts:Becauseoftheefficien ciesofdigital-onlycompetition, ,organizationswillneedtoreinventbackoffi ceprocessesandreplaceaginginfrastructure . ,newproductswillbedevelopedandsegmentsse rvedthatwillprovidedifferentiatedofferin gsandmonetizationopportunities. Developmentofsecurityandcompliancesystem s:Withcustomerdatabecominga product formanyfinancialinstitutions,theneedfore nhancedsecurityandadvancedinsights(AI) Financial Trends Impacting BankingCopyright BIAN 2011 | Banking industry Architecture Network10 Technologies That Will Disrupt Financial Services In The Next 5 Years As opposed to technology taking a secondary position, supporting only the processing of transactions, future technologies will be more customer-centric and efficient, and provide more targeted, secure and intelligent solutions.

8 With technology as the driving force in the future, organizations will be able to redefine themselves to be more competitive and responsive to marketplace needs. Atosdeveloped a very helpful Global Banking Technology Radar that provides a perspective on the technologies anticipated over the next five years, the business impact of the technologies and the timing of integration. Copyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupBanks are Responding in three different ways,Which one(s) are you adopting?Copyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupFactors to Consider When Choosing a Digital StrategyCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupSome of the Important Standards in Banking IndustryCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupSome of The Important Standards in Banking industry Banking Major Standard Category: ISO BASEL IFRS FSAP CFT Some of The Important Samples are.

9 BIAN ( Banking industry Architecture Network ) AMQP (Advanced Message Queuing Protocol) Banking ISO Standards: 20022, 9564, 7816, 7810, XBRL (Extensible Business Reporting Language) FIBO (Financial industry Business Ontology ) FIX (Financial Information eXchangeProtocol) LEI (Legal Entity Identifier) FPLM (Financial products Markup Language) MDDL (Market Data Definition Language) EMV PCI DSS (Payment Card industry Data security Standard) ..Copyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupMoving Towards Enterprise Architecture with a Service-Oriented ApproachCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupBanking Architecture What is Architecture ?

10 The fundamentalorganisation of a system embodied in its components, the relationship between these components and the environment and the principles governing its design and evolution. What is Banking Architecture ? The fundamental organisation of a Banking SYSTEM, embodied in its components, the relationship between these components and the environment and the principles governing its design and evolution. So what are these components ? Business Architecture Information Architecture Application Architecture Technology ArchitectureCopyright BIAN 2011 | Banking industry Architecture NetworkSadadInformatics Corporation New Product Development GroupWhat is Enterprise Architecture and it s Layers?

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