I’m pleased to inform you that our proposal for the financial extension to schema.org based on FIBO, was accepted as a part of “pending” extensions: http://pending.webschemas.org/
In essence it means that our “hosted” extension proposal is just one step from being in full production mode of schema.org. The time that lapsed since we launched our “Pull Request” was admittedly, quite long and it was mostly related to the large scale changes and improvements on schema.org side. Despite the long waiting, we are happy that our extension comes into much better system for global web vocabulary.
We are very pleased to confirm that our work on schema.org financial extension based on FIBO has been fully appreciated by schema.org steering committee and we are now officially in the “core” of schema.org. (see schema.org release notes)
This is huge success and we would like to discuss within the community how we could all benefit from the achievement. We do not stop going at fast pace, though. As we speak, we are lunching another proposal for fibo.schema.org “hosted” schema.org extension (the post about that step will come here this week).
Last, but not least – we will soon propose our first community wide Conference Call.
On the list of things for consideration is our “Financial (FIBO) proposals for the core vocabulary” for schema.org containing the basic types and properties related to financial products. This was officially proposed as Pull Request (#965) in the schemaorg repository.
I invite you to review this proposal an submit, hopefully supportive, comments against the Pull Request. The more support this proposal gets, the more likely it is to be accepted, laying the foundation for future more detailed FIBO extension proposals.
An explanation of why you are supportive, and why it will improve the markup of financial resources, would be good. However a simple +1 would also be helpful.
I thought I would update the group as to where we are at in the process of proposing ways for the Schema.org vocabulary to increase its capabilities for marking up financial organisations, their products and services for structured data discovery on the web.
Mirek described in the Invitation to Participation, this work started as an initiative of the EDMC who engaged an international team to help build the basis of a proposal for a hosted fibo.schema.org extension to the vocabulary.
That work, inspired by FIBO, identified several potential Types and properties that would probably add value to the broad core of Schema.org and lay the foundation for a more detailed, financial industry focused, fibo extension to follow.
A ‘proposal for the core’ is what we are concentrating on at the moment with the proposals and examples that have been shared on the wiki, and loaded into a test version of the Schema.org site at sdo-fibo.appspot.com.
How to view the Proposals. If you are viewing them as a financial industry expert, you may well find these generic terms as being light on industry specific detail. This is a deliberate approach to make these general terms understandable and applicable across a broad spectrum of use cases that spreads wider than specific financial organisations. For example a furniture store describing 6 months interest-free credit on all chairs purchased in December. This whilst laying the foundation and basic capability for a bank to describe the products and services it has to offer.
Enhancements to Service. As part of this proposal we are recommending that several properties applicable to Product have Service added to their domain. These properties are: aggregateRating, audience, brand, isRelatedTo, isSimilarTo, logo, and review. Whilst adding value to our, financial oriented, proposal also echoes previous discussions generally in the Schema.org communities to align Product and Service properties more closely.
Like any Schema.org proposal it is open for discussion until it is part of a ship. I invite comments and or questions from anyone that is interested. The intension is to fairly quickly propose this to the main Schema.org group, via a pull request to the schemaorg Github repository and opening up the discussion to the wider community.
New to Schema.org? If you are new to Schema.org and its concepts, you might find this background article, from those at the heart of it, useful reading. Also if you would like an insight into the process this is all part of – applying markup, using the Schema.org site, and creating extensions – I can recommend a webinar series I recently recorded, Schema.org in TwoParts, especially part 2.
We are happy to present to you the results of the work done by EDMC fibo.schema.org team. The result of our work is the proposal for a minimal set of types and properties describing basic financial products to be included into schema.org’s “core” vocabulary. We are delivering a set of basic terms that shall enable webmasters to describe the most important financial products on their websites, and in other forms of digital communication.
Immediately after this proposal, we will propose a hosted extension (fibo.schema.org) that will contain much more types and properties that satisfy the needs of more advanced users.
We are very glad to see such a large number of enthusiasts in the W3C FIBO Community Group. Before publishing the Charter of our group, please let us explain the goal of the group, as well as its actions that are to be expected in the near future.
FIBO™ is the conceptual business ontology standard for the Finance Industry. FIBO™ provides a description of the structure and contractual obligations of financial instruments, legal entities, market data and financial processes. FIBO™ is released as a series of standards under the technical governance of the EDM Council. FIBO™ is being published as a family of specifications by the Object Management Group.
It is perhaps less clear what fibo.schema.org is and what are its goals. Firstly, let us explain that schema.org is a collaborative, community-based initiative whose mission is to create, maintain, and promote schemas for structured data on the Internet, on web pages, in email messages, and beyond.
Secondly, fibo.schema.org is intended to belong to the group of “Reviewed/hosted Extensions” of schema.org. As such, if accepted, it will share types and properties with the “core” of schema.org.
In February 2015 the EDMC started a schema.org FIBO Content Team under the leadership of David Newman, SVP, Wells Fargo Innovation Group, who chairs the FIBO initiative, and Dennis Wisnosky, Founder, Wizdom Systems, who is the senior advisor to the Council. The FIBO Content Team, which included member volunteers of the EDMC, intended to identify a set of requirements that would drive recommendations for new financial terms and concepts to be proposed to schema.org that would also align with FIBO.
In September 2015 the EDMC engaged Mirek Sopek, founder and vice-CEO of MakoLab SA and members of his international team (Martin Hepp, Richard Wallis, Dominik Kuzinski, Robert Trypuz, Piotr Goetzen and Adam Lis) to further develop these recommendations and to prepare the necessary content and artefacts needed to successfully deliver a formal submission to schema.org that will be approved.
In November 2015, with support from the EDMC team, the group created this W3C Community Group in order to encourage more specialists, particularly from the banking industry, to join an open discussion about the best form and content of the extensions.
The current plan for the group is to propose a certain minimal set of types and properties describing basic financial products to be included into schema.org’s “core” vocabulary. This process will deliver a set of basic terms that shall enable webmasters to describe the most important financial products on their websites, and in other forms of digital communication. Immediately after this proposal, the group will propose a hosted extension (fibo.schema.org) that will contain much more types and properties that satisfy the needs of more advanced users.
Compliance with the FIBO Ontology will be sought during all the stages of the extensions’ creation. This may involve references to existing FIBO classes and properties, as well as proposals to the FIBO team to add certain new terms to FIBO.
We will soon publish the first result of this work – the proposal of terms to be included in schema.org’s core and will start the open discussion about it here. We are looking forward to your active participation and fruitful discussions.
The Community Chairs:
David Newman, Dennis Wisnosky, Mirek Sopek
This is a community initiative. This group was originally proposed on 2015-11-13 by Mirek Sopek. The following people supported its creation: Mirek Sopek, Robert Trypuz, Robert Kost, Tom Adamich, Pete Rivett, Christopher Regan. W3C’s hosting of this group does not imply endorsement of the activities.