17 July 2009 Company Announcements

 

Temenos announces BIAN alignment initiatives

Temenos has revealed a set of development initiatives undertaken to align T24 Model Bank with the first set of BIAN standards published on Monday. This includes the recent launch of T24 R09, the latest release of Temenos T24, signifying the first release of a set of Model Bank banking services, which have been aligned with the work being done through BIAN on the banking Services Landscape.

BIAN was established in 2008 by banks and IT companies including Deutsche Bank, Credit Suisse, ING, SAP, Temenos and Microsoft, to act as an independent body committed to the promotion and development of industry standards in support of service oriented architecture roadmaps. The association's main objective is to ease the journey of banks moving to an SOA by building a community that will openly share domain and technical expertise in the application of SOA principles and methodologies.

Robert Hunt, senior research analyst at TowerGroup, commented "What we have today is a technology Tower of Babel - systems written at different times using different software structures and sometimes different programming languages. This results in systems that are difficult and expensive to maintain and prevents banks from implementing new products in a timely manner. BIAN represents a great opportunity for the industry to define banking services and develop a more standardised approach to software development. As we develop SOA standards and services, banks and vendors should be able to develop and maintain systems at a much lower cost. This first set of published deliverables and the alignment initiatives undertaken by members like Temenos is encouraging and will work to bring the benefits of BIAN to life for potential members."