EDMC Selects Adaptive to Support FIBO Initiative

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July 2, 2012 – New York, NY – The Enterprise Data Management Council (EDMC) has selected Adaptive’s standards-based semantic repository to support their Financial Industry Business Ontology (FIBO) initiative. The Semantics Repository is a project of the EDM Council. The purpose of the repository is to standardize the terms and definitions of all the reference and market data attributes used by the financial industry for business processing, investment decisions, scenario modeling, risk management, portfolio valuation and reporting. As quoted by Mike Atkins, Managing Director of the EDM Council, “With thousands of data attributes, delivered by hundreds of internal and external sources and stored in dozens of unconnected databases, we saw the need for a web-based solution that was capable of integrating the multiple business and technical tools currently in use by financial organizations.  That is why we decided to work exclusively with Adaptive who is helping us migrate our Semantics Repository to their standards-based Metadata Manager.  In addition to its ability to import and export multiple formats (including UML and OWL), the Adaptive Metadata Manager will enhance our navigation, simplify our downloading, improve our ability to generate diagrams, technical reports, and spreadsheets and give us complete control over changes through workflow with integrated versioning and access control for collaboration.”