Eight global banks have joined with SAP to form a network to lay the groundwork for the industry's move to service-oriented architecture (SOA). Banking IT executives and chief architects from ABN AMRO, Absa, Barclays, Banco Bilbao Vizcaya Argentaria (BBVA), Credit Suisse, Deutsche Postbank, ING, and Standard Bank will work with SAP to define the banking-specific enterprise services required to make SOA for the banking industry a reality. The initiative, called the Industry Value Network for Banks, will define enterprise services that will bridge the gap between today's banking systems and the next generation of banking solutions.

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