EDM Council Partners with Cambridge Semantics to Operationalize FIBO

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csby Angela Guess

According to a new article out of the company, “Cambridge Semantics, the leading provider of smart data solutions driven by Semantic Web technology, today announced that the Enterprise Data Management Council (EDM Council) has partnered with the company to support deployment of the Financial Industry Business Ontology (FIBO) initiative. Founded by the financial industry in 2005, the EDM Council is a neutral business forum dedicated to elevating the practice of data management as a mandate for efficient business operations. It is developing an industry standard to define financial business terms, FIBO, to simplify the way financial institutions describe complex processes, allowing industry participants and regulators to harmonize reporting, authorize data quality, collect transactions and analyze risks across the global financial system.”

The article continues, “Cambridge Semantics, along with industry practitioners, semantic technology experts and information architects, are collaborating to standardize the language used to define and simplify terms associated with financial processes, market data and legal obligations. Cambridge Semantics will utilize its award-winning Anzo Smart Data Platform to automate deployment of the ontology. Anzo Smart Data Platform helps financial enterprises and others rapidly discover, understand, combine, analyze, link and manage data from diverse sources, both from within and across organizational boundaries.”

Read more here.

photo credit: Cambridge Semantics

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