FIBO (Financial Industry Business Ontology)

FIBO (Financial Industry Business Ontology) is a standardized framework that defines the concepts, terms, and relationships used in finance and banking. It provides a common language for financial institutions, regulators, and technology providers to ensure consistent understanding and communication of financial data. By organizing complex financial information into a clear structure, FIBO helps improve data accuracy, interoperability, and compliance across the industry. Essentially, it acts as a shared blueprint that enables different financial systems and parties to "speak the same language," enhancing efficiency and reducing errors.