New Release: Financial Industry Vertical Pack

Some text analytics scenarios need more than general purpose resources to get the results you need. If you are familiar with MeaningCloud, you’ll know that resource customization is one of our main features and great advantages. The parametrization available in the different analyses we offer enables you to adapt our tools to exactly the type of analysis you want. You can do this in two ways: using any of our predefined resources or creating your own with our customization consoles.

In this line, we are happy to announce that we have released a new vertical pack for the finance industry. This pack will allow you to analyze your financial contents and interpret them according to a standard vocabulary (FIBO™).

MeaningCloud release

FIBO™, developed by the Enterprise Data Management Council (EDMCouncil), is an ontology that defines the set of things that are of interest in financial business applications, and the ways that those things can relate to one another. FIBO™ uses Web Ontology Language (OWL) to semantically define core financial industry concepts and relationships, so that each real-world concept is framed in a way that is unambiguous and that is readable both by humans and machines. FIBO™ can give meaning to any data (e.g., spreadsheets, databases, documents) that describe the business of finance.

The FIBO™ Vocabulary is implemented within the vertical pack as a dictionary that allows to detect the occurrences of the concepts, disambiguate them according to the context and provide complementary semantic information such as the link to the node of the FIBO™ ontology from which they come.

But let’s see what this mean in an actual financial text. The following text has been extracted from The Federal Reserve Bank of New York. In the image below, you can see in light blue the concepts defined in FIBO™ that appear in the text, as well as other information MeaningCloud extracts marked in other colors.

FIBO tagging

All the FIBO™ concepts will be tagged with an ontology type that will correspond to the domain and subdomain they belong to. These are the domains and subdomains covered in the vocabulary and the resulting taxonomy:

FIBO ontology types

You can read more about the information available for the FIBO™ concepts in its documentation. To test it, there are two possible ways to do this:

Once you have access to the dictionary, it will appear available in the testing console, so you just have to select it before sending the text to analyze.

FIBO in test console

For any questions, we are available at

[FIBO™ is a registered trademark of EDM Council. MeaningCloud is not an affiliate, nor endorsed by EDM Council.]

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