FIBO is the industry standard and initiatives to define the financial and industrial terms, definitions and synonyms, using the principles of the Semantic Web. This is a joint effort OMG and Enterprise Data Management Council. The project was initiated by direct requests to achieve control of financial data, reporting, notification of important events and so on. The objective is to integrate existing standards in this solution and to also avoid the famous N +1 problem ..
Financial Industry Business Ontology (FIBO) is a model that can be used effectively in the following areas:
• Regulatory Authority
• standardization of data
• Risk Management
• Requirements for Analytics