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The Banking Industry Architecture Network e.V. (BIAN) is an independent, member owned, not-for-profit association to establish and promote a common architectural framework for enabling banking interoperability. It was established in 2008. BIAN's goal is to establish a semantic framework to identify and define IT services in the banking industry.
Information Framework (IFW) is an enterprise architecture framework, populated with a comprehensive set of banking-specific business models. It was developed as an alternative to the Zachman Framework by Roger Evernden .
The beginnings of the banking industry can be traced to 1780 when the Bank of Pennsylvania was founded to fund the American Revolutionary War. After merchants in the Thirteen Colonies needed a currency as a medium of exchange, the Bank of North America was opened to facilitate more advanced financial transactions.
Pages in category "Banking industry" The following 8 pages are in this category, out of 8 total. ... .bank; Banking Industry Architecture Network; Banking lobby; G.
The typical network architecture for modern online payment systems is a chain of service providers, each providing unique value to the payment transaction, and each adding cost to the transaction: merchant, point-of-sale (PoS) software as a service (SaaS), aggregator, credit card network, and bank.
The accounts do not generate as much revenue as traditional private banking, but given the number of customers, can provide sizeable revenue to the bank. In 2016, Credit Suisse and UBS replaced the phrase "private banking" with "wealth management"; private banking has faced reputational risk as an area for tax avoidance or even tax evasion. [9]
Hong Kong has adopted a voluntary approach to open banking, with the Hong Kong Monetary Authority (HKMA) encouraging the use of open APIs in the banking industry. The HKMA's Open API Framework recommends minimum security standards and architecture, but banks have the flexibility to choose their implementation methods. [23]
Such profitability priorly restricted to the non-banking industry, has prompted the Office of the Comptroller of the Currency (OCC) to encourage banks to explore other financial instruments, diversifying banks' business as well as improving banking economic health. Hence, as the distinct financial instruments are being explored and adopted by ...