Financial Industry Business Data Model

Semantics for midsize Banks

The presentation was derived from a custom overview of the FIBO data model for a European retail and commercial bank. While every bank and data architecture team is different, challenges and solutions apply to most banks of similar size and semantic technology sophistication. This general introduction for midsize banks.

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FIB-DM Semantics for Midsize Banks CtO

The slides only support the presentation, which has twice the word count. I recommend watching the video with the PDF as a handout.

Text of the presentation

Semantics for Midsize Banks

Financial Industry Business Data Model & Ontology (FIB-DM & FIBO)

https://fib-dm.com
FIBO is the authoritative model concepts, their definitions, and

of Financial Industry relations.
The Enterprise Data Management Council (EDMC) is the Global Association of over 200 Financial Institutions (FI).

  • Data Management best practices
  • Development and implementation of Data Standards.
    EDMC members, mainly the large FI*, developed the Financial Industry Business Ontology (FIBO), a business conceptual model.
    2435 classes detail loans, financial instruments, business entities, and processes.
    *The EDMC membership Tier A starts at $200 billion in assets under management. Tier B, Midsize banks for FIB-DM licenses are banks with assets between $50 and $200 billion.
    F Finance key point 2
    There is a chasm between semantic conventional data management.
    Large Financial Institutions (FI) already implemented FIBO.
    The EDMC specified FIBO in Ontology Web Language (OWL).
    OWL runs on specialized databases, RDF (triple) stores

and
Mid-size banks face high barriers: Tooling, database systems, and human expertise.
OWL needs highly specialized ontologists.
IT-departments must still support and design relational databases. No midsize bank has an RDF-store in production
F Finance key point 3
FIB-DM is the bridge across the chasm.
in
The Industry Standard is available in your Data Modeling tool.
F Finance key point 4
Semantic Enterprise Information Architecture
Use Type FIB-CM RDF FIBO OWL Level
Business Conceptual FIB-UM Enterprise FIB-DM
Design Logical

Data Model

Department
Physical
Development RDBMS
Implementation

RDF Project
Data Message Process Object
Semantic Model-Driven Development, common names, definitions and design patterns.
F Finance key point 5
Domain ontology generates a perfect CDM
https://fib-dm.com/semantics-for-data-architects/
Ontology graph, FIBO Conceptual Data Model, FIB-DM
This entity-relationship diagram is the best representation of the Bank Account, its provider, and ID.There are no missing and no superfluous entities and relationships in the design.

Depository Institution
Depository Institution subtype
Bank
isProvided By Bank
<> provides
BankAccount isProvided By
BankAccount
1,n
BankAccount isIdentified By
identifies
BankAccount Identifier identifies
BankAccount Identifier
F Finance key point 6
FIB-CM 15 concepts mnemonic icons, and abbreviations
90% of FIB-DM entities are a subtype of the concept entity
SIT Situation
A Agent
OCC Occurrence
R Role
ASP Aspect
TE Temporal Entity
D Designation
SP Specification
DOC Document
CST Constituent
ARR Arrangement
SQ Scalar Quantity
COL Collection
M Measure
ACT Account
https://fib-dm.com/semantics-for-finance-users/
Enough to visualize design in user-friendly concept maps
F Finance kuesyerpoint 7
The concepts and vocabulary directly correspond to the ontology.
https://fib-dm.com/education-module-scoping-our-first-data-model/
Finance, Business User (MS-Visio) Ontologist (Protégé)
Ontologist 8
Guide to the Reference Sheets
Icon Concept Name (Abbr.)
135 important Subtypes
FIBO definition (cursive)
Explanation, examples and most important subtypes
Number of entities
Note: The FIB-DM website has fully scalable diagrams of the complete subtype hierarchies. Download the SVG files here: https://fib-dm.com/financial-industry-business-concept-diagrams/
Explanation and examples of concept relationships
significant Concept Associations
F Finance key point 9
Agent (A)
An agent is an autonomous individual that can adapt to and interact with its environment.

  • The Person is an intuitive subtype of an autonomous Agent. There can only be one record of you in an Agent table.
  • Likewise, there must be only one record of Legal Person with its subtype Legal Entity or Organization
  • Automated Systems or Software Agents can transact without human intervention.
    135
  • IDs identify the Agent, e.g., the Passport identifies a Person.
  • The Agent has Addresses; the corporation is Domiciled in some Geopolitical Entity
  • A Corporation has a Date of Incorporation, a Person has a Date of Birth.
  • The Functional Entity manages its Legal Entity.
  • Agents own other Agents: The hierarchy of subsidiaries.
    has Registered Address
    identifies is Domiciled in
    owns has Date of Incorporation
    manages
    F Finance key point 10
    Configurable Ontology to Data –Model Transformation (CODT)
    We generate data models from industry/domain and our proprietary ontologies.
    FIBO
    Industry
    In-house

FIB-DM
Enterprise
Project
We reverse engineer our data models into RDF/OWL to extend the enterprise and project ontologies.
Data Architect Ontologist 11
The FIBO in ERWin https://fib-um.com/fibo-in-erwin/
The ERWin “Import from External Format” functionality provides an easy migration of the native PowerDesigner FIBO Data Model.
The import is complete and accurate, fully preserving the extensive FIBO documentation in ERWin User Defined Properties.
Data Architect 12
Data Model packages.
Generic OMG Commons OMG Languages, Countries & Currencies Simple Knowledge Organization System Specification Metadata
FIBO Foundation
Domain Core

Free Open Source
FIBO Finance Business & Commerce FIBO Business Entities
FIBO Loans & Mortgages FIBO Business Processes
Domain Extensions
FIBO Corporate Actions & Events

FIBO Securities
FIBO Derivatives FIBO Indicators
Commercial License
FIBO Market Data FIBO Collective Investment Vehicles
F Finance key point 13
Version, support & maintenance
FIB-DM follows the quarterly EDM Council FIBO Production release schedule.
Licensees with a maintenance contract get the FIB-DM version six weeks after the FIBO release.
The current FIB-DM version is as of FIBO Q4/2025 Production, released in January 2026.
F Finance key point 14
The Path to SEIA
Immediate ROI using the FIBO content and design patterns from day one.
2026, adopt the Industry Standard, FIBO data and concept model
2027, train data architects in OWL. Customize FIBO to become your Enterprise Ontology
2028, Semantic Enterprise Information Architecture
Easy to learn a new language, OWL and tooling; if you already know the content and design.
Become a reference implementation, and I can teach and advise you.
F Finance key point 15
Further reading and watching
The FIB-DM.com website Education path, visual guide to FIB • scalable SVG diagrams of the data model.
• A list report of the 3,173 entities with their definitions.
• Extensive education materials in MS Office online and PDF downloads.
Follow the FIB-DM LinkedIn page for news, updates, and to read and share comments. https://www.linkedin.com/showcase/fib-dm/
Watch FIB-DM Education videos on YouTube. https://www.youtube.com/c/fibdm
F Finance key point 16