CODT Proof of Concept – Executive Summary (video)

The video is a ten-minute short overview of the latest release of FIBO Data Model transformation technology.


Hello, welcome back to FIB-DM.

Today I’m talking about semantics for extra-large banks, the Configurable Ontology to Data model Transformation, CODT. It’s an overview and introduction into the Semantic Enterprise Information Architecture, and into Semantic Model-driven Development with the industry-standard ontology at the apex. One note, XLB is a generic placeholder. You can replace the logo and name with your institution’s insignia. Also, this is a fast forward, less than 10 minutes long, and in this case, it actually is an executive summary of the 60-page deck. Beyond the intro, into CODT, it’s also an offer to try it out, test it in the POC.

What are the challenges that Centers of Excellence, COE face? Many banks already implemented, extended, and customized the industry-standard ontology. However, most of the banks, 95% still runs on relational databases using data models. XLB has a highly qualified team of ontologists and data scientists. However, data architects have the FIBO Data Model but cannot leverage the work of their semantic CEO colleagues. The risk is that semantic implementation becomes yet another data silo, using a different language than the rest of the organization, and thus impeding data integration.

Our vision is the Semantic Enterprise Information Architecture. We have data models in relational database systems. New is that we have ontologies deployed on RDF databases. With CODT, we can generate data models out of the ontology, and also object models, and in the future process and message models. The point is that the ontology is at the apex of the enterprise architecture, and we derive different implementation models.

CODT version Atlantic enables Semantic Enterprise Information Architecture and Model-driven Development. We have FIB-DM, the data model in the full version 2020/Q2 release with 4563 entities. The world’s largest data model. We have Atlantic CODT, the technology that derived the data model from the industry-standard.

The FIBO is more than a knowledge graph. The EDM Council says on its website: The Financial Industry Business Ontologies or FIBO is a business conceptual model developed by our members. The Council and its members correctly decided to define the business conceptual model in Ontology Web Language, OWL, because of the superior semantics in the notation. FIBO conceptualization and relations are fully applicable for lower semantic taxonomies, concept maps, business, and data models. In other words, FIB-DM is also a perfect conceptual data model.

With CODT, architects can derive their own data models. Let’s take a look at what it does. On the left-hand side, we have an ontology graph. We see a bank that is a depository institution. It provides bank accounts, and bank accounts have a bank account identifier. On the right-hand side, we see the output of CODT: The conceptual data model with the same underlying business rules. What CODT does is out of classes, it creates entities, subclasses become inheritances or subtypes in the data model, object properties transform to associative entities, and finally class restrictions, domain and range determine relationships and cardinalities.

So how does the patent-pending technology that created the FIBO data model work? The old OWL file parsing approach doesn’t produce usable data models, and it cannot cope with very large ontologies. The new CODT ETL-inspired approach creates high-quality models, and the technology is fully scalable and configurable. On the left-hand side, we have RDF/OWL, the ontology on the right-hand side. We have our data model, in this case, PowerDesigner. It’s ETL; we Extract Transform and Load into the data modeling tool. Behind the scenes, Metadata Sets are keyed records holding properties for all objects of the model. For example, the entities’ metadata sets have 4568 records. Ontology Metadata Sets hold records extracted from the ontology platform. Entity-Relationship Metadata Sets transform ontology into generic E/R. And finally, PowerDesigner, (or another tool) Metadata Sets are ready to load into the data modeling tool.

The USPTO utility patent filing caused quite a stir.  The specification is comprehensive, with 23 drawings, 19 tables, 35 pages. Twenty claims comprehensively cover the method, system, and storage medium. Once granted, the patent protects code licenses and generated models, including the FIB-DM.

What’s in the CODT license agreement? FIB-DM licensees can purchase CODT as an add-on. New users can license  FIB-DM plus CODT bundle. It includes the software deliverables, the complete CODT Excel workbooks. It’s a site license which doesn’t limit the number of users. You’re free to modify the software and create new models for internal use. Just like your FIB-DM license, you must keep derived models confidential. The license includes the education resources which you’re free to modify, translate, edit, and even lift off images. The license covers the intellectual-property. You are free to leverage the metadata sets, queries, formulas, the algorithms disclosed in the source code, and the patent specification for internal development.

Licenses price for the institution size using your EDM Council membership tier as a segment. The add-on price for existing FIB-DM licensees is two-thirds of your data model license. The bundled price for new users is 1.5 times the standalone FIB_DM. There are discounts for central banks, multilateral lenders, and so on, and also for early adopter large financial institutions.

Overview of the Proof of Concept: It’s an offer to try to test and evaluate CODT free of charge. The scope is not the whole SEIA. The objective is to prove that CODT works with your FIBO extensions, to test the application, and evaluate the intellectual property. During the POC, you get the Excel workbooks, education materials, and a copy of the patent application. It includes two days of training and three days of support.

Here here is a typical six-week timeline: POCs are rolling with maximal two banks at a time. There are two weeks for an intro into CODT, transforming the FIBO as a POC. We repeat the transformation exercise with the addition of your proprietary ontologies. You can explore configuration changes and other embodiments.

OK, conclusion: Semantic Center of Excellence and ontologies must not become another silo. Our vision is the Semantic Enterprise Information Architecture. The FIBO is the industry standard, and FIB-DM is superior to vendor data models. CODT leverages the ontology for data management. Copyright and patents protect your investment. Thank you, and if you have questions or like to schedule a discussion, please email me. Thank you!