Automating Financial Regulatory Compliance Using Ontology+Rules and Sunflower
| Autor: | Daniel Elenius, Reginald Ford, Wesley Moore, Elie Abi-Lahoud, Grit Denker |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
Finance
Knowledge management Knowledge representation and reasoning business.industry Computer science 010102 general mathematics 02 engineering and technology Semantic reasoner Ontology (information science) 01 natural sciences Automation Order (exchange) 0202 electrical engineering electronic engineering information engineering 020201 artificial intelligence & image processing 0101 mathematics business International finance Financial services Meaning (linguistics) |
| Zdroj: | SEMANTICS |
| DOI: | 10.1145/2993318.2993329 |
| Popis: | Compliance departments in the international finance industry are struggling to use traditional methods to keep up with the demands of new and more stringent regulatory and policy requirements. One initiative supported by many institutions is definition of a common Financial Industry Business Ontology (FIBO). We regard a common ontology as an important step, but in order to support real-world uses cases, the ontology needs to be augmented, and further supplemented by rules that encode the meaning of regulations and policies. We use Sunflower, which is built on top of the Flora-2 knowledge representation languages and reasoner, to add automation to the compliance lifecycle. Sunflower is domain-agnostic, and financial regulatory compliance is one of its many application areas. |
| Databáze: | OpenAIRE |
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