For Immediate Release: February 11, 2013
Contact: Robin Davies
Wizdom Systems, Inc.
Wizdom Founder Dennis E. Wisnosky appointed to lead the standards implementation process for the Enterprise Data Management Council’s Financial Industry Business Ontology (FIBO) suite of standards
Wisnosky will provide technical strategy and operational guidance
Naperville, IL, February 11, 2013 – Wizdom Founder Dennis E. Wisnosky has been appointed to lead the standards implementation process for the Enterprise Data Management Council’s Financial Industry Business Ontology (FIBO) suite of standards. Wisnosky will provide technical strategy and operational guidance to help the Council finalize and implement FIBO standards.
"I am extremely honored to have the opportunity to work with the Council and its members on this most exciting product," said Dennis Wisnosky. "FIBO, as it evolves, will prove to be the single business and technology solution that will both lower the cost of data management within financial industry firms, and provide the transparency to government regulators now required by law."
The Enterprise Data Management (EDM) Council is a not-for-profit trade association dedicated to addressing the practical business strategies and technical implementation realities of enterprise data management. The Council’s initiatives are based on the legal structures and obligations contained within the myriad of contracts that form the foundation of the financial industry. The Council has constructed this content into a business conceptual ontology that formally models the reality of how the financial industry operates.
FIBO presents the facts about financial instruments, business entities, loans, market data, transactions and corporate actions in a technology-neutral format along with precise definitions and defined business relationships. The open source FIBO initiative standardizes the language of financial contracts and promotes unambiguous shared meaning among all participants in the financial industry.
For more information about Dennis E. Wisnosky and the services Wizdom provides to improve semantic web technology, enterprise architecture, service oriented architecture and business processes, please contact Robin Davies at 630.357.3000 or RobinD@wizdom.com.