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System and method of banking business metadata framework

IP.com Disclosure Number: IPCOM000241617D
Publication Date: 2015-May-18
Document File: 8 page(s) / 430K

Publishing Venue

The IP.com Prior Art Database

Abstract

Disclosed is a framewok for capturing the business concepts in banking domain in a structured and systematic way.

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Page 01 of 8

System and method of banking business metadata framework

The Financial Institutions is in a highly supervised industry. Banks need to send a lot of supervision reports to supervisory institutions. For example , they must prepare a lot of data and reports to Financial Supervision Committee (FSC), Banking Bureau (BB) ,Central Bank(CB). The banking-relative regulatory and laws

were changed consistently and banks have to consolidate variety of reports for it. In banking industry, people more than 20% of time to achieve data correctness and accuracy. No only supervision reports spend a lot of time, but also managing it spend a lot time as well. Business users spend lots of time to make sure keep correctness of data as well as definition.

When banks grow bigger and older, the problems are getting worse. It is a huge question for bank. For example, the definition of loan has 40+ definitions in one Taiwan bank. The business user and IT user are extremely confused one with another. Give above scenario, a lot of technical metadata solutions has been created in this domain. IT can see the data flow, but the business definition still confused and unknown.

In this disclosure, Banking Business Metadata Framework (BBMF) is positioned to capture the business concepts in banking domain in a structured and systematic way. The BBMF,as a common language, can facilitate the understanding and communication among IT and business users. In BBMF, we destructed the banking business concepts and logic into several essential elements, and then put them into a conceptual framework. With this framework, bank can create new business concepts and maintain a enterprise-wide business metadata repository.The BBMF can provide advanced Business Lineage Analysis, and Business Similarity Analysis capabilities which is limited support in traditional approach.

Fig. 1 briefly demonstrate the difference between data lineage analysis and business lineage analysis. hi

Figure 1

1



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Pity of General Approach on Business Metadata Framework


In the market, on the one hand all of the software solutions of business glossary were to offer an interface for business users to input the business meaning in "wiki-like format (free format)". More often than not, they also provided a classification attribute to help business users to categorize these vocabularies; on the other hand, some advanced vendors offered a "tree-based" context for business concepts and pre-defined business vocabularies for industries.

However, we found that the existing approaches lack the capability to provide a consistent, systematic, and structural view to break down each business vocabulary in-depth.

In-Depth Industry Approach : Banking Business Metadata Framework (BBMF) A comprehensive business metadata framework...