Literature Review: Brac Bank and IT Integration in Banking

This literature review examines the integration of Information Technology (IT) within Brac Bank, a prominent banking institution. It explores the adoption of e-banking, the utilization of ArchiMate modeling language for business architecture, and the role of the BIAN Association in standardizing IT services within the banking sector. The review highlights how Brac Bank has incorporated various IT models to enhance its services, adapt to market competition, and reduce costs. It discusses the challenges of IT integration, such as complexities arising from diverse IT infrastructures and the need for agile and flexible systems. Furthermore, it delves into the BIAN Association's efforts to create industry standards for service operations and functional partitions, aiming to improve interoperability and lower integration costs within the financial services sector. The review emphasizes the importance of IT in modern banking and the strategic initiatives undertaken by Brac Bank to leverage technology for sustained success.

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LITERATURE REVIEW
Name
Institution
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The speedy globalization and high market competition, has made it difficult for
businesses to stay relevant without enhancing business services. Hence, numerous banking
sectors have recognised the role of technology for their institution’s success and have
considered implanting advanced information technology in their strategic goals. Today,
technology is observed as the spinal column which enables communication between people and
banking institutions. It is considered as a dependable channel to counter to the vibrant changes
in the in the banking sector. Additionally , it can be a successful method way to cut costs, and
improve quality of services. Banks seek to work together and advance their services through
incorporation. On the other hand, this integration may lead to different complications between
banking institutions as they have diverse systems IT infrastructures. Brac Bank has incorporated
three major IT model in the structure.
E-BANKING
The rapid growth in the banking sector has led to incorporation of new technologies to
update their services and have competitive edge. While banking transactions has been conducted
through physical bank outlets, the advancement of information technology has empowered
financial institutions to open new networks to offer customers with high and flexible services.
E-banking was introduced by Brac Bank in early 2000’s this has made it possible for the bank
customers transact through ATM,telephone banking,Tablet banki,mobile banking credit and
debit cards
ArchiMate

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ArchiMate independent and open modelling language used in business architecture,
reinforced by various tool vendors as well as consulting firms. The system offers tool to support
business architects in defining, examining and visualizing link among diverse architecture fields
in an clear-cut way.ArchiMate shows a clear set of ideas within and connections between
architecture fields, and provide a uniform and simple structure for defining the subjects of these
system.
ArchiMate provide a common language for defining the construction as well as operation of:
 Organizational structures
 Business processes
 IT System
 Technical infrastructure.
 Information flow
This insight assist shareholders to design, evaluate, and communicate the outcome of decisions
as well as changes between these industry domains.

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Since the year 2008 the banking sector has faced numerous challenges concerning to
their enterprise models, IT and customer relations. The desired changes in banking sector are
frequently slowed down by complex and inflexible systems structure . The main reason for the
problematic change and upgrading of that structure is the fact that its components are firmly
joined.
The BIAN Association attempts to improve the agility and flexibility of banking
services by enhancing the incorporation with an structural design that is centred on services. The
banking sector -specific semantic services are the foundation upon which to attain this flexibility.
The BIAN standardizes functional services established on well arranged architecture structure
with components wisely chosen from industry experts. It is the ambition of BIAN Association to

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attain a harmony on service definition amongst leading banks as well as financial services
sectors, which in due time should lead to standardized services.
The objective of BIAN Association is to create the most vital content, methods and
concepts in interoperability, backing the objective of lower incorporation costs in the banking
services sector and to enable business agility and innovation by:
■ Offering a architecture structure with all of the essential elements, Methodologies,and
tools for a sustainable operational model through the alignment and adoption to available market
standards.
■ concentrating on the description of the semantic services and the API-definitions to
enhance the semantic incorporation of the banking institutions landscapes.
■ Allowing the banking sector to create and run effectively and lightly
joined setting.
■ Acceptance by the members of the BIAN Association and the industry of the way
that the requirements will be executed by both banking situations and solution
Dealers, leading to defined services becoming de-facto-standard in banking sector

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Many banking participants, including the founding members of the BIAN
Association, have regularly observed a common and continuing challenge: excessive complexity
in majority of application portfolios. The complexity leads to inflexible/unresponsive structure,
inflated improvement, growing maintenance and operational costs, and failure to leverage
rapidly developing advanced solutions, business models and technologies. The BIAN
Association was recently set up by Brac Bank to address the challenges in the their banking
sector by creating a common industry standard to define Service Operations and functional
partitions which could be applied inside any financial institutions resulting in the expected
benefits previously noted.