SAN FRANCISCO, Feb. 23, 2021 /PRNewswire/ — The Business Architecture Guild®, an international community of business architecture practitioners, has released a new whitepaper, “Using Business Architecture in Conjunction with BIAN Service Domains to Drive Business Value”, to help financial institutions facilitate change, streamline transformation and expedite strategy execution.
In an environment shaped by elevated customer expectations, regulatory pressures and intensified competition, the need to leverage and integrate business architecture with related frameworks continues to grow. Fortunately, two complementary reference models, the Business Architecture Financial Services Reference Model and BIAN Service Landscape, have emerged that independently and collectively deliver a wide range of value to the financial services industry.
Published by the Business Architecture Guild’s Financial Services Reference Model team, the new white paper offers an objective assessment of each reference model and outlines the benefits and approaches for leveraging them collaboratively. According to paper coauthor Teresa Garcia-Holm, Strategy Consultant, Utility Strategy Execution Team, Wells Fargo, “The Business Architecture Guild’s Business Architecture Framework and the BIAN Service Landscape cannot only coexist in an organization but be complementary. Determine what problem is being solved for your organization, then select and assess the appropriate models to use that best solve that problem.”
In addition to discussing the value of industry reference models in financial services, the paper explores joint framework usage scenarios that include investment analysis, new product rollout, merger and acquisition, regulatory impacts, digital transformation, and open banking among others. Any financial institution evaluating or adopting one or both industry reference models will find this paper insightful and actionable.
The paper is now available to the public online and will be delivered by two of its coauthors at the Business Architecture Summit™, which will be held March 30 – April 1, 2021.
About the Business Architecture Guild®
The Business Architecture Guild® is an international, not-for-profit, member-based association that provides valuable resources to business architecture practitioners and others interested in the field. The Business Architecture Guild® is the source for A Guide to the Business Architecture Body of Knowledge® (BIZBOK® Guide) and exclusive provider of the Certified Business Architect® certification program.