Sydney, Australia — December 7, 2023, Zafin™, the leading provider of SaaS product and pricing platform solutions for banks, announces today it has won the 2023 Banking Industry Architecture Network (BIAN) Best-in-Class Partner Award. The company was honoured with this distinction for its contribution to further core modernisation and continuous client business transformation through the development of Zafin Integrate and Orchestrate (IO) a foundational technology platform and BIAN based solution.
From bank cores to the Zafin cloud-native SaaS platform and across the collaboration and workflow tools of any banking ecosystem, Zafin IO provides a comprehensive set of tools that streamline the integration of connections and data flow between a bank’s conventional, bespoke, and neo core systems, as well as the broader banking technology ecosystem. In 2023, Zafin collaborated with the team at Wells Fargo to accelerate and ease integration between the bank core and the Zafin SaaS platform. Initial project outcomes estimate a 50% reduction in integration efforts due to the use of the BIAN-based standards and a 70% reduction in time allotted to introduce product and pricing changes through the adoption of the Zafin platform.
"We set out with the clarity in our modernisation strategy that we are focused on transformation and enabling our teams to be more agile and responsive to our customers while simplifying the core for eventual replacement of the ledger. This supports our focus on enterprise product and pricing as one of the starting pillars to make an impact for our customers as quickly as possible," stated Alan Varrasso, Chief Information Officer, Wells Fargo.
Todd Schmitter, Distinguished Engineer at Wells Fargo said: “Seamless integration and loose coupling with vendors is an important aspect of our modern architecture. Zafin’s embrace of BIAN as a standard for interoperability aligns with Wells Fargo’s interest in promoting BIAN as a standard. It has been encouraging to see Zafin’s commitment to making it happen for the Product and Pricing domain.”
“The Banking Industry Architecture Network (BIAN) is pleased to recognise Zafin with the Best-in-Class Partner award for creating Zafin IO, a BIAN based solution to help their client, Wells Fargo through their business transformation, yielding very strong results that positively impact their banking operations,” stated Hans Tesselaar, Executive Director, BIAN.
“This award is a testament to our commitment to provide innovative technology that eases integration between banks’ ecosystems and Zafin’s cloud-native SaaS product and pricing platform freeing financial institutions from the constraints of traditional boundaries,” stated Shahir Daya, Chief Technology Officer, Zafin. “We value our collaboration with the BIAN group to accelerate change and drive innovation for banks. Our efforts with the Wells Fargo team have demonstrated increased interoperability by providing a standards-based anti-corruption layer and resulted in lower cost, risk, and improved time to market for creation or optimisation of products and propositions.”
Learn more about Zafin’s collaboration with BIAN.
Zafin recognized for fueling Wells Fargo’s product and pricing modernization initiative with innovative, BIAN-aligned Zafin IO technology
Founded in 2002, Zafin offers a SaaS product and pricing platform that simplifies core modernization for top banks worldwide. Our platform enables business users to work collaboratively to design and manage pricing, products, and packages, while technologists streamline core banking systems.
With Zafin, banks accelerate time to market for new products and offers while lowering the cost of change and achieving tangible business and risk outcomes. The Zafin platform increases business agility while enabling personalized pricing and dynamic responses to evolving customer and market needs.
"Zafin” is a trademark of Zafin. Other product or service names mentioned herein may be the trademarks of their respective owners.