The Use of the Semantic Approach to the Organization of Banking Information Systems on an Example of Lending

This article describes the idea of creating an ontology instead of classical relational databases in order to achieve a new level of applicant's creditworthiness assessment system. The ontology provides an assessment with implicit and complex criteria in addition to explicit ones. With the semantic description languages can be rules to discern trends among different groups of individuals which together with the ontology tied to the time can considerably change the face of the scoring system. Data protection, integration with external sources and the exchange of information between banks in real time can turn an ontology into a more intelligent and effective tool that in theory can replace the risk manager altogether.