BIAN has announced its ‘Coreless Banking’ initiative, an API-based services architecture designed to resolve the banking challenges banks face with the interface.
Coreless Banking 3.0 builds BIAN’s canonical service designs, such as semantic APIs and underlying data schema. The concept will allow banks to modernize, standardize, and develop new services faster.
The new concept will help customers at the center of the bank’s operations by providing the ability to obtain customer consent to recover their banking data with another bank. The solution will also give banks a full view of a customer’s financial status and the services they enquired for, thus allowing them to offer personalized products for customers’ needs.
Read More: Bian develops new ‘Coreless Banking’ concept
