SID Global Solutions Supports BIAN's Coreless Banking Initiative to Drive Customer Retention and Innovation with AI

Philadelphia, PA - November 15, 2024 - SID Global Solutions (SIDGS), a key member of the Banking Industry Architecture Network (BIAN), is excited to announce its active contribution to the latest iteration of BIAN's Coreless Banking Initiative. This fourth iteration, Coreless Banking 4.0, continues to advance the concept of seamless, adaptable banking to address common challenges faced by the financial industry today.

This iteration of the Coreless Banking Initiative has been developed in collaboration with prominent BIAN members, including Wells Fargo, IBM, Salesforce, and Zafin, alongside SID Global, to harness AI and machine learning in identifying at-risk customers and offering targeted retention solutions. By providing banks with the capability to anticipate customer needs and deliver tailored offers, Coreless Banking 4.0 helps prevent customer churn while preserving each bank's unique intellectual property and operational independence.

Through its SAMi Digital Asset Marketplace, SIDGS has integrated a catalog of standardized APIs and microservices to showcase the Coreless Banking proof of concept. This approach leverages BIAN's Service Domains and highlights the benefits of a standardized, composable banking architecture. SAMi enables banks to adapt BIAN's approach, simplifying service delivery, and optimizing customer engagement through an open yet secure API marketplace.

"SIDGS is deeply committed to driving digital transformation and setting new standards for secure, scalable banking solutions," said Rajeev Subbarao, Customer Partnership Global Lead - BFSI Vertical. "Through SAMi and our work with BIAN, we are demonstrating the practical benefits of API marketplaces and standardized service interfaces that modern banks can leverage to remain agile and competitive."

"SID Global Solutions is committed to helping banks unlock the potential of open, standards-based architecture, as demonstrated through our active role in Coreless Banking 4.0," said Rajeev Subbarao, Customer Partnership Global Lead - BFSI Vertical at SID Global Solutions. "By participating in this initiative, we are advancing the industry towards an agile, customer-focused future where data-driven insights are seamlessly transformed into valuable customer experiences."

About BIAN

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 operability and semantic definitions for IT services in 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 microservices architecture.

Financial institutions, software vendors, and system integrators, along with technology partners and consultancies, are invited to join the association and play a collaborative role with other industry leaders in defining, building, and implementing next-generation banking platforms. Find out more via the website:https://bian.org/

Company Name - SID Global Solutions
Contact Person - Shalu Kumari
Address - 224 Valley Creek Blvd Suite 220, Exton, PA 19341, United States
Phone - 7416664423
Email - marketing@sidgs.com
Website - https://sidgs.com/

SID Global Solutions (SIDGS) is a global leader in digital transformation for the Banking, Financial Services, and Insurance (BFSI) sector, providing pioneering solutions in API management, cloud services, and digital marketplaces. Through its SAMi Digital Asset Marketplace and strategic partnerships, SIDGS helps organizations transform their customer engagement and operational efficiency, supporting banks globally in delivering secure, scalable, and customer-centric banking solutions. Find more information on www.sidgs.com

This release was published on openPR.