Towards an ontology‐based network for banking supervision
| Pages | 943-955 |
| Published date | 25 September 2009 |
| Date | 25 September 2009 |
| DOI | https://doi.org/10.1108/14684520911001927 |
| Author | Enrique Bonsón‐Ponte,Tomás Escobar‐Rodríguez,Francisco Flores‐Muñoz |
| Subject Matter | Information & knowledge management,Library & information science |
Towards an ontology-based
network for banking supervision
Enrique Bonso
´n-Ponte, Toma
´s Escobar-Rodrı
´guez and
Francisco Flores-Mun
˜oz
Department of Accounting and Information Systems, University of Huelva,
Huelva, Spain
Abstract
Purpose – The purpose of this paper is to explore the applicability of an information submission
model based on OWL (Web Ontology Language) that permits the subsequent implementation of
knowledge-sharing systems, such as the Set of Experience Knowledge Structure, among the various
EU banking supervisors.
Design/methodology/approach – Recent theoretical advances in the use of semantic web
languages are introduced and put theoretically into force in the context. Additionally, a first-hand
questionnaire is directed to the supervisors, measuring the value compatibility of the semantic
technology with the needs of the existing European banking environment.
Findings – The results illustrate that there exists a good level of value compatibility between the
normative challenge and the new technology. Although there are some differences, these would
perhaps not make the implementation of this technological framework particularly difficult, in that
they focus on the same points that the regulators must consider to achieve success in the new
European environment, for example, the balance between normative and practical approaches.
Originality/value – This is the fist time that an ontology-based system has been proposed for
banking supervision in Europe.
Keywords Knowledge sharing,Banking, Semantics, Europe
Paper type Research paper
Introduction
Banking supervision in the European Union (EU) framework is an increasingly
complex task. All supervised financial entities – basi cally banks and investment
entities – must submit periodica l information to their corresponding supervisory
authorities. These then evaluate this information, applying criteria of qualitative and
quantitative character, and make decisions on the acceptability of the financial state of
these entities or on the need to apply corrective measures. In certain circumstances the
authorities communicate these decisions and analyses to other supervisory authorities
of one or more of the member states of the EU. This is one of the reasons why the
financial entities are improving the quality of their websites (Bonso
´net al., 2008).
This action scenario has recently made it necessary to establish instruments and
procedures for connection between supervisory authorities and financial entities , based
on meta-data languages derived from XML (eXtensible Markup Language). The
process of connection has ensured a certain degree of homogeneity in the formats for
The current issue and full text archive of this journal is available at
www.emeraldinsight.com/1468-4527.htm
This paper is supported by XBRL’s Spanish Jurisdiction: the XBRL Consortium section which
collaborates with the Committee of European Banking Supervisors of the European Central
Bank.
Towards an
ontology-based
network
943
Refereed article received
14 October 2008
Approved for publication
19 May 2009
Online Information Review
Vol. 33 No. 5, 2009
pp. 943-955
qEmerald Group Publishing Limited
1468-4527
DOI 10.1108/14684520911001927
To continue reading
Request your trial