What
is FIBO?The FIBO standard is an industry initiative to define financial
industry terms, definitions and synonyms using semantic web principals and
widely-adopted OMG modeling standards. This is a joint effort of OMG and
the Enterprise Data Management Council.
It is driven by immediate requirements to capture financial surveillance
(reporting) and data (e.g., Dodd-Frank laws in the United States and
similar post-2008 rules worldwide). It is relentlessly focused on not
reinventing but integrating existing standards (avoid the "N+1
Problem").
Financial Industry Business Ontology (FIBO) model can be effectively
utilized to fulfill:
- Regulatory governance
- Data standardization
- Risk management
- Data analytics requirements
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Last updated on
04/16/2013