DBmind Technologies applauds the efforts of the W3C RIF Working Group

Dear All

 

DBmind Technologies applauds the efforts of the W3C RIF Working Group on
their rule dialects created so far. One of DBmind's biggest pain points with
many of the (Vertical) Industry Standards is that they tend to re-invent the
wheel with their own ways of representing rules. For example, both FIXatdl
and XBRL have very different ways of representing rules. A common
nomenclature and taxonomy with good vocabularies have been developed with
the Industry Standards DBmind works with.  Many companies are implementing
projects aligning with their Industry Standard vocabulary. It's unfortunate
that some Industry Standards have decided not to pursue the topic of rule
representation with their vocabularies due to their misunderstanding on rule
dialects. Many of the companies DBmind works with look to their specific
Industry Standards for not only solutions but more importantly for
understanding on how rules can be implemented within their corporate
information architecture. Many banks have implemented various vendor
specific rules engines and do not want to be tied into a particular vendor's
rule dialect. A key architecture goal for many companies is to be vendor
neutral. To sum up, the W3C RIF absolutely needs to keep up their great work
they have done so far so the Industry Standards like XBRL, MISMO, ACORD,
FIX, FpML can all have a common understanding about rule dialects. This in
turn will also aid many companies DBmind has worked with like JPmorgan,
CitiBank, Chase Home Finance, Deutche Bank, Credit Suisse etc. on their
usage of vocabularies and rules.

 

Sincerely,

Robert Golan

Information/Rules Architect

DBmind Technologies