This page shares Financial Industry Business Data Model news and updates to downloaders and subscribers. Please subscribe here to receive the finance data model newsletter.
#12 Banking Jobs for FIBO Data Modelers
Sent: Monday, June 21, 2021 15:21
Hello Fib-DM Users,
Banks are looking for Data Modelers and Architects with FIB-DM expertise: A permanent role with a bank in Texas and a 12-month contract in Abu Dhabi.
- The US Bank has “Job Requirements: Experience working with the FIB-DM industry model.”
- The Bank in the United Arab Emirates is looking for someone “well versed with standard data models especially related to banking like Financial Industry Business Data Model (FIB-DM).“
The implications:
- For Data Management professionals, the postings show the increasing market values of the FIB-DM experience. The 2018-Q4 free Open Source core version is for you to try&play, and fully understand structures, metadata, and Semantic Data Model design patterns.
- Financial Institutions can expect stiff competition for FIBO Data model experts – just like there is for FIBO ontologists. Retain your data modelers and architects! Wrap up your FIB-DM evaluation, get the Full 2021 Commercial Model and let me train your team. Just like with FIBO ontologist, there are no actively looking, FIB-DM experts. However, your enterprise or LOB architects can quickly learn the industry standard. The maintenance contract and extra consulting provide advice for complex design decisions.
- I am very excited about public bank references to the data model because global/specialized banks and Hedge Funds keep their FIB-DM license and projects secret.
Once a software, tool, methodology, or intellectual property becomes a desired job skill, it is state of the art.
In other news, as of today, 1,539 users, 232 Financial Institutions from 86 countries downloaded the FIBO Data Model.
Regards
Jurgen Ziemer
#11 Major FIBO release 2021/Q1, Bank downloads
Sent: Thursday, April 15, 2021 23:14
Hello FIB-DM Users,
The end of the first quarter FIBO Production release is massive, adding 340 new entities to the Normative data model. New business content extends core modules (FND, FBC, BE) with loan facilities and further expands securities and derivatives. Download Full, 2021/Q1 FIBO Data Model report on the FIB-DM website.
172 Banks downloaded the FIBO Data Model. The global map depicts their icons within the regions.
Data Architects/Modelers, if your bank is already on the map, find the model file on your intranet or ask CDO/EA, rather than downloading and migrating the Open Source PowerDesigner once more.
If other banks surrounded your icon, managers and stakeholders wrap up the FIB-DM evaluation and upgrade to the Full 2,380-entity industry-standard model before competitors snap up the limited number of commercial licenses.
Enjoy the weekend,
Jurgen Ziemer
#10 US Stimulus 40 % discount; 1,300 Users; Semantics for Project/Solution Architects
Sent: Monday, March 15, 2021 12:10
Hello FIB-DM User,
President Biden signed the $1.9 trillion American Rescue Plan Act into law on Thursday, kicking off the 40% discounts* on FIBO Data Model Licenses.
Review the additional Full Data Model Upgrade content, commercial license entitlements and use the calculator to determine the discounted license price. To answer the most frequently asked question: Yes, foreign banks can get the discounted licenses. The 1.9 trillion COVID Rescue Act is a stimulus for US businesses – not a subsidy for domestic banks. Exports are welcome.
* Note that the US stimulus ended and discounts are no longer available.
Also, as of last week, one thousand three hundred users downloaded the FIBO Data Model. My original intent was to build a bridge to the industry standard for midsize (US) banks that don’t have ontologist and triple stores yet. The FIBO Data Model became a global bridge for data architects/modelers – the LinkedIn post lists eighty-four countries!
Besides North America and Europe, the regional breakdown shows a strong interest in Asia, South America, and Africa,
Finally, Semantics for Project Architects starts the new education track for solution architecture.
While the Enterprise Architect rationalizes the whole model, reviewing 2,000 normative entities and studying the concept subtype hierarchies, not every bank wants (yet another) Enterprise Data Model. The Project Architect wants solutions for subject areas. Hence this track explains the FIB-DM packages, starting with FIBO Foundation, moving on to Loans, Securities…
Watch the YouTube video (with closed captions), join the LinkedIn discussion, and download the PowerPoint.
Best regards
Jurgen Ziemer
#9 New FIBO version 2020/Q4, ER to RDF/OWL transformation, 1200 Downloads
From: Jurgen Ziemer
Sent: Friday, February 5, 2021 2:55 PM
To: FIB-DM Users
Subject: FIB-DM newsletter #9: New FIBO version 2020/Q4, ER to RDF/OWL transformation, 1200 Downloads
Hello FIB-DM User,
The January 2021 release derived from FIBO 2020/Q4 has shipped. Download the MS-Excel report with complete Entity and Package definitions for the
- 2048-entity Normative Data Model, derived from FIBO Production
- 4062-entity Informative Data Model, derived from FIBO Development
FIB-DM users are looking into ontologies and the knowledge graph. CODT, the technology that created the FIBO Data Model, is bi-directional.
You can transform your data models into RDF/OWL and accelerate FIBO customization.
Watch the overview and demo on YouTube and download the PowerPoint.
Twelve hundred users downloaded FIB-DM. Two hundred more since the last newsletter. The number of downloads remains very linear, at around twenty per week, and there is no change in regional and institutional breakdowns. While most users are on SAP PowerDesigner, Sparx EA is closing in on ERWin.
Best regards
Jurgen Ziemer
#8 One thousand users, E/R Studio version
From: Jurgen Ziemer
Sent: Tuesday, November 2, 2020 8:37 AM
To: FIB-DM Users
Subject: 1000 FIBO Data Model downloads, new E/R Studio version
Hello FIB-DM User,
You are part of a vast community; one thousand people downloaded the FIBO Data Model.
Users are from five continents, 75 countries. Most Institutional downloaders are banks, followed by Brokerage and Investment Services.
PowerDesigner remains the most popular FIB-DM data modeling tool.
Many users on other tools are struggling with the model import.
Metadata Matters, George McGeachie, released an Open Source version of FIB-DM for the E/R Studio data modeling tool, which is way beyond the standard import. The data model is a perfect rendition of the original PowerDesigner conceptual data model. E/R Studio users can save time and get a better starting point using the Metadata Matters’ model instead of importing independently.
https://metadatamatters.com/fib-dm-in-er-studio/
A few months ago, I encouraged users to publish their FIB-DM Core derived products open source. The E/R Studio version of the FIBO Data Model is the first major 3rd-party product.
I look forward to George or You publishing an ERWin, Sparx EA, Visual Paradigm, or IBM InfoSphere DA version. Or post your extensions, new subject areas, diagrams, scopes, and packages.
The Enterprise Data Management Council (EDMC), creators of the FIBO, welcomes the FIBO Data Model and features FIB-DM on their website because FIB-DM is fully compliant with copyright laws and license requirements. Likewise, the E/R Studio version recognizes OMG, EDMC, and Jayzed copyrights and licenses.
Best regards
Jurgen Ziemer
#7 Reverse-Engineer
From: Jurgen Ziemer
Sent: Wednesday, September 23, 2020 4:24 AM
To: FIB-DM Users
Subject: Reverse-engineer your Data Models into Enterprise-, Knowledge Graph-, and Operational Ontologies
Hello FIB-DM Users,
The fourth article is a milestone, culminating the round-trip from FIBO, the ontology, to FIB-DM, the industry-standard data model, and back. Finally, 900 FIB-DM users can harvest their model extensions and other data models back into the RDF/OWL.
The use cases are jump-starting FIBO customization for Enterprise-, Knowledge Graph-, and Operational Ontology design. The CODT, the Configurable Ontology to Data Model Transformation, created the FIBO Data Model.
In reverse mode, it transforms data model entities into ontology classes, subtypes into subclasses, associative entities & relationships into object properties, and attributes into data properties.
Watch the YouTube, Semantics for Extra Large Banks video, read the CODT PowerPoint and reverse-engineering article, and comment on the LinkedIn version.
Semantics for DAMA, the FIBO Data Model event, had 147 registered attendees and 54 concurrent participants. An hour-long Q&A and lively discussion followed the thirty-minute overview presentation. If you missed the meeting because of US Labor Day or East Asian late-night start or want to share with your colleagues, here are the DAMA Zoom recording and presentation.
Finally, I came across a translation: Semantics for Finance Users in Japanese. More than half of FIB-DM users have English as a second language. Please forward to native Japanese speakers in your network and create more translations.
#6 DAMA session and CODT POC tutorial
Hello FIB-DM Users,
From: Jurgen Ziemer
Sent: Friday, August 28, 2020 12:13 AM
To: FIB-DM Users
Subject: I. DAMA International hosts FIB-DM Overview
and Q&A II. CODT POC Webinar and Executive Summary videos
Hello FIB-DM Users,
- Ten days from now, DAMA Data Modeling Event on Monday, September 7, 2020, from 4:30 PM to 5:30 PM GMT+2 (10:30–11:30 AM EST).
DAMA International is the world’s largest association of Data Management professionals, and Howard Diesel, President of the South Afrika chapter, organizes and moderates the monthly Data Modeling sessions. The upcoming open meeting provides an overview and demo of the FIBO Data Model with plenty of time for Q&A and discussion.
The FIB-DM DAMA Event webpage, https://fib-dm.com/semantics-for-dama-international/, has details and a preview of the presentation, and the recording week after next.
Seventy people will attend the meeting. The session is open for non-members, and you can register at the DAMA Meetup page .
- The first follow-along tutorial for POC-participating banks is available on YouTube, Semantics for Extra Large Banks.
The Configurable Ontology to Data Model Transformation (CODT) is the technology that created the 4,568-entity FIBO Data Model. The US Utility Patent filed to weeks ago opens CODT for Financial Institutions, which already customized the industry-standard ontology and need a data model reflecting their extensions (most of them are global banks).
The presentation reveals a first look at the CODT Reverse Mode – transforming Data Models into Ontologies.
Please email me at jziemer@jayzed.com if you have questions about DAMA, the CODT POC, or FIB-DM in general.
Thanks and regards
Jurgen Ziemer
#5 August, Utility Patent filed
From: Jurgen Ziemer
Sent: Tuesday, August 11, 2020 7:37 AM
To: FIB-DM Users (subset)
Subject: Utility Patent filed for CODT, the FIBO to FIB-DM transformation technology
Hello FIB-DM Users,
Eight hundred people downloaded the FIBO Data Model. While most users are with North American and European Banks, Asia, Afrika, and South America are catching up.
Last week the United States Patent and Trademark Office (USPTO) acknowledged the “Non-Provisional” (= definitive and permanent) Utility Patent Application for The Configurable Ontology to Data model Transformation (CODT). This technology derived the FIBO Data Model. The LinkedIn post (also) had eight hundred views, many likes, and comments.
Once granted, the patent protects users of the Open Source and Commercial version of the Financial Industry Business Data Model.
Rather than parsing RDF/OWL files, Version 1.0, Atlantic leverages 4GL languages, SPARQL, and MS Power Query M-language to extract, transform and load metadata. A few large financial institutions have the opportunity to test and evaluate Atlantic CODT, deriving data models from their proprietary FIBO customizations and extensions in a Proof of Concept (POC). The general availability of the transformation technology will be November/December this year.
Please email me at jziemer@jayzed.com if you have questions about the CODT POC or FIB-DM in general.
Thanks and regards
Jurgen Ziemer
#4.5: May, Publish your FIBO Model!
From: Jurgen Ziemer
Sent: Thursday, May 28, 2020 10:34 AM
To: FIB-DM Users (subset)
Subject: Publish your ERWIN, Sparx EA, Visual Paradigm, E/R Studio, or other FIBO Data Model!
Hello, FIB-DM independent contractors, consulting-, and software companies,
Publish your ERWIN, Sparx EA, Visual Paradigm, E/R Studio, or other FIBO Data Model!
This interim newsletter goes to the subset of 40% non-institutional FIB-DM downloaders and users on data modeling tools other than PowerDesigner.
Most FIB-DM users have to migrate or import the PowerDesigner or UML-XMI model into their tool. Many have questions, and I only have Sparx and PowerDesigner licensed and installed.
While you can’t sell an ERWin FIB-DM, distributing your high-quality migration and diagrams showcases your expertise and capabilities. You may win new prospects, customers, and business.
Under the General Public License, all FIB-DM Core-derived works are Open Source already – you don’t have to ask for my permission to share them.
To prepare your model, just make sure to retain (or add, if lost in the import) the Jayzed, EDMC, and OMG copyright and license properties on all packages (subject areas).
The example screenshot below shows FIBUM, the Universal UML-XMI model imported into Sparx Enterprise Architect.
Copyright: Add your name or company to the Jayzed, EDMC, OMG entry.
License: Just leave it as is. (You must not add a proprietary license to GPL 3.0)
To distribute your model, simply provide a download on your website, a DropBox link, or email a ZIP as an attachment.
The EDM Council supports FIB-DM because Jayzed Data Models Inc. fully complies with their MIT license requirements. Likewise, I look forward to sharing links to your derived models or migration tips in the next newsletters, on LinkedIn, and the FIB-DM website.
Thanks & regards
Jurgen
#4: May, 2020/Q1 Release
From: Jurgen Ziemer
Sent: Tuesday, May 12, 2020 5:40 AM
To: FIB-DM Users
Subject: Newsletter 4: Release 2020/Q1 of the FIBO Data Model shipped last week
Hello FIB-DM Users,
The new Informative 4,563-entity data model based on the latest FIBO 2020/Q1 Development version announced in the previous April newsletter has shipped.
Last week commercial licensees received the two PowerDesigner models, Normative and Informative. The LinkedIn Post, “The World’s Largest Data Model?” had 36 Likes and comments.
The diagram shows the FIBO Data Model packages. The Normative (green) version adds Securities, Derivatives, and Indicators & Indices to your Core version. The Informative (yellow) version, a separate PowerDesigner model file, adds Loans, Funds, Corporate Actions, Business Processes, and Market Data.
You can view and download the new subject area diagrams and complete MS-Excel Package/Entity definition list reports on the FIB-DM website. Structurally, the Full version is identical to your Open Source model file – it just unlocks the additional subject areas, entities, and diagrams. In other words, as the Core version imported into your data modeling tools, so does the Full version.
Of course, you should upgrade! The Full Model Upgrade article explains the commercial license and maintenance coverage, entitlements, and pricing.
The offer includes extensive Model Resources, PowerPoints, spreadsheets, Visio, and videos. The commercial license lifts the GPL 3.0, “copyleft” requirement that derived models must remain Open Source. You can keep them confidential.
Finally, small pension funds, community banks, academia, and individual contractors who can’t afford a license, please be patient. Scoping and distributing the Open Source Core model is a lot of work. Licensees paid for the competitive advantage. So there must remain some FIBO release time-lag and premium content. There will be a FIB-DM Core release later this year.
Please contact me at jziemer@jayzed.com if you have any questions or like an online FIB-DM overview meeting.
Thanks and regards
Jurgen Ziemer
#3: April, Normative/Informative models
| From: | Jurgen Ziemer |
| Sent: | Tuesday, April 7, 2020 6:08 AM |
| To: | FIB-DM Users |
| Subject: | FIB-DM newsletter: New 4416-entity data model derived from FIBO Q1 2020Development version |
Hello FIB-DM Users,
It has been six weeks since the last newsletter – here are the news:
Starting with the April 2020 release, FIB-DM follows the EDM Council schedule with quarterly model releases. Commercial license holders get the four thousand four hundred entity DEV version in addition to the normative data model derived from FIBO production.
The article defines FIBO/FIB-DM production and development as normative and informative versions of the model. We explain how to use the two models in a model-driven architecture.
Commercial releases used to be once a year when the EDM Council promotes a new module into production. Atlantic CODT, the completely recoded version of the transformation technology eliminated the weeks-long manual work, making two models, quarterly possible.
You are welcome to email me you questions or comment on the LinkedIn versions of the articles.
Stay save,
Jurgen Ziemer
#2: February, EDM Council
From: Jurgen Ziemer
Sent: Tuesday, February 25, 2020 8:20 AM
To: FIB-DM Users
Subject: FIB-DM newsletter: EDM Council FIBO invites you, data modelers
Dear FIB-DM User,
One hundred more people downloaded the data model since our first newsletter, a month ago. The user community now is over four hundred, 139 Financial Institutions, Regulators, Universities, and Government entities.
I am in the middle of transforming the latest 14 January FIBO release into a data model update. FIB-DM will grow by three hundred entities, mainly in the Foundation and Securities packages. Check out and follow the FIB-DM LinkedIn pages for updates and details.
The Enterprise Data Management Council (EDMC), the creator of the industry-standard ontology, welcomes FIB-DM data modelers to shape the industry standard. Please see below and respond to Robert, the EDMC FIBO Project Manager’s invitation – no ontology expertise is expected.
Likewise, please share your migrations and extensions of the FIBO Data Model. All derived artifacts are Open Source already under the General Public License. You don’t have to ask for permission –publish your work on GitHub or elsewhere. In particular, your import into other data modeling tools, the most frequently asked question:
While 40% of FIB-DM users are on PowerDesigner, 178 of you have other data modeling tools, a staggering duplication of migration efforts. Please publish and distribute your ERWin, Sparx, Visual Paradigm, or other FIBO Data Model with your diagrams!
I look forward to sharing your link on the FIB-DM website, LinkedIn, and the next newsletter. For institutions, this is giving back to the industry. For independent contractors and consultancies: While you can’t sell your “ERWin FIB-DM,” distributing the Open Source showcases your expertise. Banks may ask you to migrate their full commercial version or advise on customization.
Thanks and regards
Jurgen
The EDM Council invitation:
Dear Data Modelers! If you are interested in building the Financial Industry Business Data Models, I’d like to warmly invite you to join the Open Financial Industry Business Ontology initiative. A few details: – FIBO is open, i.e., the “fibo” GitHub repository is public. – FIBO is released under MIT license. – All documentation relevant to understanding and developing FIBO is in GitHub (see e.g. FIBO ontology guide). – All changes in FIBO are discussed publicly on GitHub. – FIBO Viewer allows browsing FIBO online. – We help in organizing working groups (please consider joining one of 3 currently active FIBO Working groups)
– We promote FIBO “external” products such as Jurgen’s FIB-DM (the ontology derived data model). Important! To join the FIBO Community, you do not have to be an ontologist or a Semantic Web ninja. It’s enough you are familiar with data modeling and/or know something about the financial domain. Please write an e-mail to fibo@edmcouncil.org to get more information.
Thank you!
Best,
Robert Trypuz, PhD FIBO Project Manager
EDM Council
#1: January, Introduction
From: Jurgen Ziemer
Sent: Tuesday, January 21, 2020 6:11 AM
To: FIB-DM Users
Subject: Your FIBO Data Model – upcoming new version
Dear FIB-DM User,
You are among three hundred people who downloaded the Financial Industry Business Data Model (FIB-DM).
I am Jurgen Ziemer, the Data Architect/Ontologist who derived the data model from the Financial Industry Business Ontology (FIBO).
There will be a new version of the Open Source Data Model coming out this spring. I plan to send new download links to active users via this distribution list, rather than having you submit the download form again.
Beyond model releases, I also want to update you on new FIB-DM LinkedIn posts, free data model education PowerPoints, the YouTube channel, and on occasion, the benefits of upgrading to the Full FIBO Data Model.
Breaking News: The Enterprise Data Management Council (EDMC) made FIB-DM the “official” FIBO Data Model. See the new FIB-DM external Product page on the EDMC website: https://spec.edmcouncil.org/fibo/FIB-DM
The Global Association of Financial Institutions takes notice of you, council member data modelers leveraging their industry standard.
Thanks again for using the FIBO Data Model. I welcome your questions, comments, and suggestions about the model and user community.
Best regards
Jurgen
P.S. The sender of this email, distribution list FIB-DMUsers@jayzed.onmicrosoft.com, is an unmonitored mailbox. Please contact me at my email address below.
If you are no longer using FIB-DM, forward this email to jziemer@jayzed.com with “REMOVE” in the header, and I will take you off the distribution list.
If you want to join, send an email to jziemer@jayzed.com with “SUBSCRIBE” in the header, your name, company, and data modeling tool in the message text, and I will add your email address to the distribution list.
