It’s here! 3.0 with a financial terminology on basis of the Financial Industry Business Ontology
It’s here! 3.0 with a financial terminology on basis of the Financial Industry Business Ontology

It’s here! 3.0 with a financial terminology on basis of the Financial Industry Business Ontology

Another huge success in MakoLab’s portfolio. The proposition to enrich with a financial sector dictionary designed by EDMC i MakoLab has been officially accepted. This means that the proposed ontology, developed on basis of the Financial Industry Business Ontology (FIBO), has become an integral part of – the most widely used standard for description of structural data on the Internet.

EDMC and MakoLab have prepared the basic terminology for the financial sector in Among the proposed terms, there are: MonetaryAmount, FinancialProduct, BankAccount, DepositAccount, LoanOrCredit, AnnualPercentageRate, PaymentCard, InvestmentOrDeposit, PaymentService, CurrencyConversionService, LEICode. We have also suggested introducing several changes in the existing term database in – they were also received positively by Schema’s creators and were added to the latest version 3.0.
Our extension will assist website publishers in applying proper structural data for description of the most important products of the financial sector on websites and other channels of online communication.
Immediately after the publishing of 3.0, we began works on – an extension that will contain a complete standard of description of structural data for the financial sector.
Works on the financial extension of Schema have been led by Mirek Sopek, PhD – Vice-President of MakoLab, an international team consisting of specialists from EDMC: Richard Wallis, Dominik Kuziński, Robert Trypuz, PhD, Piotr Goezten, PhD and Adam Lis. The entire operation is led by Dennis Wisnosky (FIBO Project Manager) and David Newman (Strategic Planning Manager, Senior Vice President, Enterprise Architecture and IT Strategy, Wells Fargo, Chair EDM Council FIBO Initiative).
We encourage website creators to use new terms from Schema!If you are interested in cooperating on development of new financial extensions within the FINANCIAL INDUSTRY BUSINESS ONTOLOGY COMMUNITY GROUP, feel free to contact us.
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