SunTec joins Banking Industry Architecture Network (BIAN) consortium
Reinforces its commitment towards building a Digital Banking Architecture that is customer-centric
London, 10 th March 2020 – SunTec, a pioneer and world’s number one relationship-based pricing and billing software solutions provider, has joined with Banking Industry Architecture Network (BIAN), a non-profit standards organization established to help banks combine their industry expertise to define a banking technology framework that will standardize and simplify core banking architecture. This membership initiative is expected to provide both the parties with an edge to leverage each other’s strength to address the key pain points faced by banks, and help them further align with BIAN standards to meet business goals successfully.
Through this partnership, SunTec will collaborate with BIAN member organizations and help them define and build a Digital Banking Architecture that is customer-centric by leveraging its micro- services based, award winning product suite Xelerate that helps banks to build a digital core, including setting up a system-of-engagement with enhanced product innovation capabilities, enterprise pricing, revenue management and partner ecosystem management for open banking. Coherent with BIAN’s vision for creating a universal standard for banking, this partnership would also help banks address interoperability issues and enable them to quickly adopt new technologies, add more functionality and capabilities, offer customized products and enhance the customer experience to transition from a product-based to an agile, customer-first organization.
“It’s a proud moment for SunTec to join BIAN and build our participation in working together with its member organizations to help them drive their digital transformation aspirations. Over the last 30 years, SunTec has grown to become a trusted partner for leading banking and financial services organizations across the globe and through Xelerate, we innovate across the banking value chain, to drive customer experience leveraging international standards. We intend to actively contribute to this network by providing guidance in defining standards that can help equip banks with the agility and flexibility required to make their digital transformation plans a success, by minimizing risk, leveraging existing infrastructure and by helping them drive their customer experience,” said Nanda Kumar, Founder and CEO of SunTec.
Hans Tesselaar, Executive Director, BIAN, said: “We are happy to bring on board SunTec as a key partner in BIAN to power our drive towards a universal standard in banking. With their vast experience working with leading banks across the globe, they bring in very valuable insights into customer-centricity and customer engagement strategies in today’s digital driven economy. This would be of immense use for BIAN members to define a standard for banking that is centered on the banking customer user journey. “
Agility is the driving force of all digital transformation journeys and SunTec’s Xelerate has been built to deliver the best digital experience which banks can provide to its customers. With this partnership, SunTec will be able to work closer with BIAN and create a standard that will help banks overcome current business challenges around legacy modernization and work in a smarter way to provide innovative services by putting the customer at the center to build solutions that are open, intelligent and connected.
Established in 2008, the Banking Industry Architecture Network (BIAN) is an independent, member owned, not-for-profit association, designed to build and promote a common architectural framework for banking interoperability issues. BIAN’s goal is to define an Enterprise-, Functional- and Technical Architecture supported by semantic API definitions for the banking industry. The community of over 80 members focuses on creating a standard semantic banking services landscape, while ensuring consistent service definitions, levels of detail and boundaries. This will help banks to achieve a reduction of integration costs and take advantage of a micro services-based architecture.
Financial institutions, software vendors, and system integrators, along with technology and academic partners, are invited to join the association and play a collaborative role with other industry leaders in defining, building and implementing next-generation banking platforms.
At SunTec, we help our clients increase the lifetime value of their customer relationships through effective revenue management and real-time customer experience orchestration. Our low risk digital transformation approach enables clients to own the customer experience by enhancing their value-based engagement. With 100+ clients in 45+ countries, SunTec is a trusted partner of leading organizations across Banking, Financial services, Insurance, Telecom and Travel industries. Headquartered in India, we have operations in USA, UK, Germany, UAE, Singapore and Australia. With a team of highly skilled folks and our highly innovative product development models, we help our clients to always remain at the cutting edge of technology. A stable, mature and flexible product suite, Xelerate is benchmarked regularly for optimum performance. Coupled with insights from our industry experts and a robust future-ready roadmap, Xelerate continues to develop along with the market. Able to seamlessly integrate with any ecosystem, it is one of the fastest products to implement.
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