Composing the future of banks - FinTech Futures

In my last two posts, I've defined what composable banking is and its potential scope. In both these posts, I've highlighted BIAN as a way of defining the composable modules. One thing I'd like to add though is that BIAN represents the business model of banking first and then how it can be supported by technology. It's not about the modularisation of software components that can be easily interchanged, it is very much about creating flexibility and agility in banking by creating a canonical representation of the business of banking. The biggest challenge for any bank is how do they reach such a vision of composable banking when over decades of investment in technology automation they have hundreds or thousands of systems, with some sharing data through extraction, some integrated through technical bridges and maybe a few more modern solutions through APIs?