by Angela Guess
A new press release states, “EDM Council, the financial industry’s trade association for data management, is teaming up with Schema.org to transform the way financial concepts are linked across the internet to deliver more relevant and accurate results from major search engines like Google, Bing, Yahoo and Yandex. The initiative will help banks and fintech companies increase client engagement and drive innovation by associating their products and services with relevant and standard subject definitions, not just keywords. For example, if a web user searches for ‘mortgage,’ it will now generate results with other concepts related to mortgages, such as ‘lending rates,’ ‘payment conditions’ and ‘repayment terms.’ This has the potential to increase traffic, retain visitors longer, and create more profitable advertising and digital business models.”
The release continues, “Starting with retail banking, credit cards, investment products and mortgage lending, the EDM Council will provide Schema.org with its FIBO (Financial Industry Business Ontology) content, which precisely defines financial concepts and creates a shared global financial language, allowing website administrators to easily tag their content to generate far more intelligent search results. ‘We are delighted that Schema.org is adopting FIBO as part of the worldwide web infrastructure,’ said Michael Atkin, Managing Director of the EDM Council. ‘FIBO will help ensure consistency of meaning across all financial participants and enhance the way people, banks and fintech companies are connected to each other.’ The FIBO methodology can be used to enhance a bank’s visibility on the web, provide precise data analytics for a bank’s internal or external use, implement sophisticated ‘smart-search,’ enable integrated mobile applications and more.”
Read more at EDM Council.
Photo credit: EDM Council