The Banking Industry Architecture Network (BIAN) has welcomed 27 new members since the beginning of the year.

New members include CreditOne Bank, ANZ Bank, National Australia Bank, Banco Pichinchaa, 10x, Fiserv, TDECU Credit Union, 2innovate, SAP Fioneer, Luxoft, Backbase, Bantrab Financial Group, tietoevry, Advanzia, GIM-UEMOA, R34DY, ArcOne, Keppri, Zendicoded, Midships, ABSA Bank, Nucleus Software, Kyndryl, MuleSoft, Samlink, BSV and Sirus Technologies.

The new memberships have boosted the total number to 120.

BIAN, which was established in 2008, is a collaborative not-for-profit global network made up of banks, tech providers, consultants, and academics. The organisation aims to establish and promote a common framework for banking interoperability issues.

The organisation has an open API exchange and carries out proof-of-concept projects, including its coreless banking initiative.

The non-profit said that it has continued to receive "significant interest" from global banks as they embark on their digital transformation journeys.

The new memberships come as 90 per cent of the world's banks invest in digital transformation initiatives, with global spending expected to reach $1.3 trillion by 2025, according to data from Deloitte.

“It’s incredibly exciting to see this growth and interest in our organisation," said Hans Tesselaar, executive director, BIAN. "Over the last 16 years, we have proven that through greater collaboration we can drive the change needed to transform our industry for the better."

BIAN also announced that following the organisation's general assembly in September, Tracy Kerrins, head of enterprise generative AI, chief information officer, consumer technology at Wells Fargo and and Al Karim Somji, the co-founder of Fintech Zafin, have been appointed to the Board.

At Wells Fargo, Kerrins is focused on responsibly scaling AI and genAI capabilities to employees and customers. She is also working on improving the customer experience and propelling the technology modernisation effort for Wells Fargo’s auto, credit card, payments, home lending, and small business units.

BIAN said that she has been "instrumental" in driving the fourth iteration of BIAN’s Coreless Banking concept, learning from her AI and machine learning experiences at the bank.

The Network said that Zafin became a "frontrunner in core modernisation" under Somji's leadership, adding that he has been making contributions to BIAN since joining in 2015.

Commenting on his appointment, Somji said, “Joining the BIAN board is an honour. I believe that banking is an essential service ready for disruption. As I transition into this next phase, I am committed to working with fellow BIAN board members and member banks to facilitate the creation of standards-based open-source platforms that will enable core modernisation within the industry.”

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