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Financial Industry Business Ontology Community Group

The mission of Financial Industry Business Ontology Community Group is to propose, discuss, create and maintain extensions to related to Financial Industries.

Group's public email, repo and wiki activity over time

Note: Community Groups are proposed and run by the community. Although W3C hosts these conversations, the groups do not necessarily represent the views of the W3C Membership or staff.

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I’m happy to inform you that the documentation about our extension “Markup for Banks and Financial Institutions” has been published in the main documentation zone under:

Banks and Financial Institutions: Background information and examples on the types and properties for marking up banks and their products

The document we recently created, describes in details the extension design principles, its conceptual map, the objects of the real world reflected in it and how do we model them, and explains several exemplary use cases.

All comments and remarks are more than welcome!
Happy reading:


Our financial extension is in schema v3.2

As anticipated, our financial extension has become a part of v3.2.
The following terms:

are now in! However, as they share the common namespace with all other terms, we can now start using them in our websites and messages!

We will soon publish a document that describes the extension and its use.

It is also a time to plan our community conference call. The best time for it is the second half of April. We will keep you posted as soon as the plans crystalize….





Our extension is in v3.2 release candidate!

Dear All,

Again, some time has passed since we were promoted to but now we are very close to the promotion to the official “pending” status (i.e. to The nature of extensions in pending is such that they already can be used for PRODUCTION sites, as they share the namespace with the main

In practical terms, we will very soon be able to use all the terms we proposed, both for core and for, since the publication initially planned for May 15th ( v3.2).

You can review the release candidate at:

Dan Brickley invites us all to report possible “bugs, mistakes, typos, modeling and example improvements and other detailed review comments are welcome here or in the issue tracker at:

We are very happy as very soon we will be able to start the real work: using our extension on live websites!

We will also soon propose the FIBO Community Group call aiming at invigoration of the Group activity.






Our financial extension promoted to !

Dear FIBO W3C community members,

I’m pleased to inform you that our proposal for the financial extension to based on FIBO, was accepted as a part of “pending” extensions:

In essence it means that our “hosted” extension proposal is just one step from being in full production mode of 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 side. Despite the long waiting, we are happy that our extension comes into much better system for global web vocabulary.

Individually, you can inspect our types and properties, through the direct links on

issue-1253 Types (6)
BrokerageAccount, ExchangeRateSpecification, InvestmentFund, MoneyTransfer, MortgageLoan, RepaymentSpecification
issue-1253 Properties (25)
accountMinimumInflow, accountOverdraftLimit, amount, bankAccountType, beneficiaryBank, cashBack, contactlessPayment, currency, currentExchangeRate, domiciledMortgage, downPayment, earlyPrepaymentPenalty, exchangeRate, exchangeRateSpread, floorLimit, gracePeriod, loanMortgageMandateAmount, loanPaymentAmount, loanPaymentFrequency, loanRepaymentForm, loanType, monthlyMinimumRepaymentAmount, numberOfLoanPayments, recourseLoan, renegotiableLoan

The new terms complement the previously accepted “core” terms:

MonetaryAmount, FinancialProduct, BankAccount, DepositAccount, LoanOrCredit, PaymentCard, InvestmentOrDeposit, PaymentService, CurrencyConversionService

leiCode, loanTerm, requiredCollateral, annualPercentageRate, feesAndCommissionsSpecification, interestRate

I would like to encourage you to comment about the new types and properties to be added to in the realm of FIBO. We need your voice !



We are in 3.0 !

Dear FIBO W3C community members,
We are very pleased to confirm that our work on financial extension based on FIBO has been fully appreciated by steering committee and we are now officially in the “core” of (see release notes)
In essence it means that the smallest common set of financial terms we proposed
(MonetaryAmount, FinancialProduct, BankAccount, DepositAccount, LoanOrCredit, PaymentCard, InvestmentOrDeposit, PaymentService, CurrencyConversionService) plus some modifications of other terms we suggested – became part of v3.0.
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 “hosted” 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.
Stay tuned !
David, Dennis, Mirek

Time to review initial proposals for support

The next release of is starting to take shape.

On the list of things for consideration is our  “Financial (FIBO) proposals for the core vocabulary” for 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.

You can find the raw RDFa, a list of the proposed additions and changes, and examples listed in the wiki.  Also they are visible at the test version of the vocabulary.



The current phase conclusion

The work on the “Proposal for the core” for containing the basic types and properties related to financial products has come to its conclusion.

We are now planning to submit our proposal, as described in the previous post from Richard Wallis, to team.

However, if you have any remarks or comments that could make our proposal better, please do not hesitate to contact us, through your comments.

The proposal is presented at: and at:

David, Dennis and Mirek

The Stage That We Are At

Hi All,

I thought I would update the group as to where we are at in the process of proposing ways for the 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 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 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 site at

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 communities to align Product and Service properties more closely.

Like any 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 group, via a pull request to the schemaorg Github repository and opening up the discussion to the wider community.

New to  If you are new to 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 site, and creating extensions – I can recommend a webinar series I recently recorded, in TwoParts, especially part 2.


The proposal is here…

Dear All,

We are happy to present to you the results of the work done by EDMC 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’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 ( that will contain much more types and properties that satisfy the needs of more advanced users.

Our proposal is presented in the form of list:




The draft version of website containing proposed types and properties is available here:

It is also illustarted in the following mind-map diagram:


We hope for your comments, suggestion and a discussion with us !

David, Dennis, Mirek