global web-based aggregation for financial services...
TRANSCRIPT
Global WebGlobal Web--based based AggregationAggregation for for Financial Services and Financial Services and Other New ApplicationsOther New Applications
Stuart Stuart Madnick Madnick {{smadnicksmadnick@@mitmit..eduedu}}Michael Siegel {Michael Siegel {msiegelmsiegel@@mitmit..eduedu}}
Harry (Harry (HongweiHongwei) Zhu {) Zhu {mrzhumrzhu@@mitmit..eduedu} }
Center forCenter for eeBusinessBusiness@MIT@MITMIT Sloan School of ManagementMIT Sloan School of Management
© © MadnickMadnick, Siegel, Zhu 2002 , Siegel, Zhu 2002 (v10)(v10)
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eBusinesseBusiness & Financial Services Group& Financial Services Group
Strategy Strategy and Policy
Applicationand Policy
AggregatorsAggregators
Global Financial Account AggregationGlobal Financial Account Aggregation
Application
eCommerce eCommerce & & Financial ServicesFinancial Services
TechnologyTechnology
Web wrapper & Context mediatorWeb wrapper & Context mediator
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OverviewOverview
Aggregator definition, types & examplesAggregator definition, types & examples
Emerging Global AggregationEmerging Global Aggregation
Enabling TechnologiesEnabling Technologies
Legal, Cultural, and Policy IssuesLegal, Cultural, and Policy Issues
SummarySummary
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Aggregator DefinitionAggregator Definition
Transparently collects informationTransparently collects information
with with or withoutor without prior source arrangementprior source arrangement
resolves contextual differencesresolves contextual differences
Performs analysisPerforms analysis
not merely gathernot merely gather
Represents userRepresents user
acts as agent for useracts as agent for user
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Aggregator Types & ExamplesAggregator Types & Examples
Investment analysis, Investment analysis, policy analysispolicy analysis
Department calendarsDepartment calendarsComplementaryComplementary
Financial account Financial account aggregationaggregation
Customer Relationship Customer Relationship Management (CRM)Management (CRM)
RelationshipRelationship
Shop for best prices Shop for best prices (e.g., books)(e.g., books)
Benchmarking Benchmarking divisionsdivisions
ComparisonComparison
ExternalExternalInternalInternalSourcesSources
Types
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www.www.evenbetterevenbetter.com *.com *
Comment: Need for Mega-Aggregators* Now called DealTime.com
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Concept of a Financial Account Aggregator (FAA)Concept of a Financial Account Aggregator (FAA)
CitigroupCitigroupCredit Cards
AggregatorAggregator
Credit Cards
UserUser
FidelityFidelityBrokerageBrokerage
FleetFleetBankingBanking
BancOneBancOneCredit CardsCredit Cards
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Financial Account AggregatorFinancial Account AggregatorAggregateeAggregatee
AggregateeAggregatee
AggregatorAggregator
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Example FAA OfferingsExample FAA Offerings
Account Aggregation Technology SuppliersAccount Aggregation Technology Suppliers•• YodleeYodlee•• VerticalOneVerticalOne•• eBalanceeBalance
Account Aggregation OfferingsAccount Aggregation Offerings•• Chase, Fleet, Citibank (Chase, Fleet, Citibank (myCitimyCiti.com), . . ..com), . . .•• MerrillMerrill--Lynch, Fidelity Investments, . . .Lynch, Fidelity Investments, . . .•• Yahoo, AOL, . . .Yahoo, AOL, . . .
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“Aggregation . . . “Aggregation . . . The ‘killer app’ in the eThe ‘killer app’ in the e--finance revolution”finance revolution”
http://www.tfconferences.com/conferences/AAG01/index.html
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“After Aggregation” Services
FI FI #2#2
FI FI #3#3
Other Internet SourcesOther Internet SourcesFirst Call
FI FI #1#1
UserUserFAAFAA
Account Account Analyst Analyst
First CallAsset Asset
Allocation
ExcelExcel
AdvisorsAdvisors
WizardsWizards
AgentsAgents
Allocation
“After Aggregation” Services
Financial Financial SourcesSources
UserUserInformationInformation
Intranet SourcesIntranet Sourcesand applicationsand applications
• Emergence of Open Aggregation
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MMA is also an MMA is also an aggregator,aggregator, of MM rate sourcesof MM rate sources
Better rates
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MultiMulti-- MegaMega-- Aggregator !Aggregator !
Our Universal Financial Aggregator (UFA) is:Our Universal Financial Aggregator (UFA) is:
Relationship AggregatorRelationship Aggregator::
AggregatesAggregates your financial informationyour financial information
several ways: totals and stock holdingsseveral ways: totals and stock holdings
Comparison AggregatorComparison Aggregator::
A Money Market rate A Money Market rate MegaMega--AggregatorAggregator
draws on multiple MM sourcesdraws on multiple MM sourcesincluding sources that are, in fact, including sources that are, in fact, aggregatorsaggregators of some MM sourcesof some MM sources
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Complementary Aggregator Complementary Aggregator (Internal & External Sources)(Internal & External Sources)
Real time Tibco
Integrated SpreadsheetIntegrated Spreadsheet
SourcesSources
Internal
External
External
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There may be value in aggregation but…There may be value in aggregation but…
The REAL VALUE is The REAL VALUE is after aggregationafter aggregation servicesservices
Books.comBooks.com -- How to price my books?How to price my books?
MaxMilesMaxMiles.com.com -- Who flies where and when?Who flies where and when?
IntershipperIntershipper.net.net -- Who ships, from where, to Who ships, from where, to where, how much?where, how much?
Money Market/CD ratesMoney Market/CD rates -- Will my offering be Will my offering be effective? Are the holes in the market?effective? Are the holes in the market?
UFAUFA -- Can I manage my finances better?Can I manage my finances better?
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Everyone is impacted:Everyone is impacted:If you are not an Aggregator,If you are not an Aggregator,you are an you are an AggregateeAggregatee
Books.com, Books.com, MySimonMySimon.com, .com, EvenBetterEvenBetter.com.comBarnes and Noble, Borders, Amazon, . . .Barnes and Noble, Borders, Amazon, . . .
MaxMilesMaxMilesUnited, American, TWA, US Air, . . .United, American, TWA, US Air, . . .
Universal Financial Aggregator (UFA)Universal Financial Aggregator (UFA)your banks, your brokers, your your banks, your brokers, your billersbillers , . . ., . . .
NOTE:NOTE: AggregatAggregateeeess --> Aggregat> Aggregatororss
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OverviewOverview
Aggregator definition, types & examplesAggregator definition, types & examples
Emerging Global AggregationEmerging Global Aggregation
Enabling TechnologiesEnabling Technologies
Legal, Cultural, and Policy IssuesLegal, Cultural, and Policy Issues
SummarySummary
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Global AggregationGlobal Aggregation
InternationalInternationalIntraIntra--nation (domestic)nation (domestic)
Global internal eGlobal internal e--businessbusinessExchanging information between Exchanging information between branches in different countriesbranches in different countries
Domestic internal eDomestic internal e--businessbusinessCrossCross--selling between domestic selling between domestic divisionsdivisions
IntraIntra--organizationorganization
* * Global eGlobal e--businessbusiness-- Global Financial Account Global Financial Account
AggregatorAggregator
-- Global Comparison Aggregator: Global Comparison Aggregator: Comparing prices of domestic and Comparing prices of domestic and foreign vendorsforeign vendors
Domestic eDomestic e--businessbusinessMost online shopping todayMost online shopping today
InterInter--organizationorganization
Transaction flow:Transaction flow:
Information/serviceInformation/service
Physical goodsPhysical goods
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Global Comparison Aggregator Global Comparison Aggregator
http://soursop.mit.edu/global
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Global Price ComparisonGlobal Price Comparison
USMexico
BrazilUK
FranceGermany
SpainItaly
NetherlandsDenmark
NorwaySweden
Japan500
1000
1500
2000
Pric
e of
DC
R-IP
5 ($
)
N= 52 22 22 18 12 8 2 3 3 6 6 16 2
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Benefits of Global AggregationBenefits of Global AggregationA tool for market studyA tool for market study
Timely and specific pricing informationTimely and specific pricing information
Reduce search costReduce search cost
Increase competition in marketIncrease competition in marketIncrease efficiencyIncrease efficiency
Evidenced by lower price on the Internet (6Evidenced by lower price on the Internet (6--16% lower 16% lower according toaccording to BrynjolfssonBrynjolfsson and Smith, 2000)and Smith, 2000)
Estimated potential of $23 Billion surplus in consumer Estimated potential of $23 Billion surplus in consumer electronics market in U.S. and Western Europe.electronics market in U.S. and Western Europe.
αφαφ+
−−−−=
1)1()1( 0000 xpxpCV
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Aggregation in Other DomainsAggregation in Other DomainsQ: How did CO2 emissionsQ: How did CO2 emissions
(total, per GDP, per capita) (total, per GDP, per capita)
change over timechange over time(between 1990 and 2000) (between 1990 and 2000)
in Yugoslavia?in Yugoslavia?User 1User 1: YUG as a geographic : YUG as a geographic region bounded before the region bounded before the breakupbreakupUser 2User 2: YUG as a legal : YUG as a legal autonomous stateautonomous state
New related efforts: - Laboratory for Information Globalization and Harmonization Technologies (LIGHT)- Computational Politics project
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World Bank’s World Dev. World Bank’s World Dev. Indicator DB; Indicator DB; UN Statistic UN Statistic Division;Division; Statistics Bureaus
45604560
282282
1.281.28
104.8104.8
2952329523
20002000
28002800
535535
1.51.5
66.566.5
3560435604
19901990
User 2User 2User 1User 1
1100110028002800GDP/CapitaGDP/Capita
640640535535CO2/GDPCO2/GDP
1.461.461.51.5CO2/capitaCO2/capita
24.224.266.566.5GDPGDP
15480154803560435604CO2CO2
2000200019901990CountryCountry
Total CO2 in 1000 tons per year; GDP in billions USD; Total CO2 in 1000 tons per year; GDP in billions USD; CO2/Capita in tons per person; CO2/GDP in tons per CO2/Capita in tons per person; CO2/GDP in tons per million USD; GDP/Capita in USD per personmillion USD; GDP/Capita in USD per person
2.02.071627162SVNSVN
2.02.0608.7608.7MKDMKD
4.54.5266.9266.9HRVHRV
3.93.913.613.6BIHBIH
10.610.61627.81627.823.723.7698.3698.3YUGYUG
PopPopGDPGDPPopPopGDPGDPCountryCountry
2000200019901990
SITSITTolarTolarSVNSVNSloveniaSlovenia
MKDMKDDenarDenarMKDMKDMacedoniaMacedonia
HRKHRKKunaKunaHRVHRVCroatiaCroatia
BAMBAMMarkaMarkaBIHBIHBosnia and Bosnia and HerzegoviaHerzegovia
YUNYUNNew New YugYug. . DinarDinar
YUGYUGYugoslaviaYugoslavia
CurCodeCurrencyCurrencyCodeCodeCountry CurCodeCountry
225.93225.93SVNSVNUSDUSD
64.75764.757MKDMKDUSDUSD
8.0898.089HRVHRVUSDUSD
2.0862.086BIHBIHUSDUSD
67.26767.26710.510.5YUGYUGUSDUSD
2000200019901990ToToFromFrom
39813981SVNSVN
33783378MKDMKD
54055405HRVHRV
12791279BIHBIH
15480154803560435604YUGYUG
2000200019901990CountryCountry
CO2 EmissionCO2 Emission
OAK Ridge’s CDIAC DB; OAK Ridge’s CDIAC DB; WRI;WRI; GSSD;GSSD; EPAs Olsen (Web)Olsen (Web)EPAsStatistics Bureaus
In 1000 tons per yearIn 1000 tons per yearGDP in billions local currency; GDP in billions local currency; Population in millionsPopulation in millions
Many sources needed:Meanings in sources & users might differ
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Challenges to Global AggregationChallenges to Global Aggregation
Screen Scraping
Direct Data Feed
Data Collection
Sematic Integration
Security
Technical
Data Reuse
Privacy
Liability
Jurisdiction
Legal
Internet Penetration
Trust
Online Shopping
E-Banking Adoption
Cultural
Challenges
Some of these addressed inOur eReadiness studies
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OverviewOverview
Aggregator definition, types & examplesAggregator definition, types & examples
Emerging Global AggregationEmerging Global Aggregation
Enabling TechnologiesEnabling Technologies
Legal, Cultural, and Policy IssuesLegal, Cultural, and Policy Issues
SummarySummary
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MIT MIT COntextCOntext INterchangeINterchange (COIN) Project(COIN) Project
AppliAppli--cationscations
OUTPUT OUTPUT PROCESSINGPROCESSING
ODBC DriverODBC Driver
Web Web --PublishingPublishing
CONTEXT CONTEXT MEDIATIONMEDIATION
** Automatic Automatic conflict conflict detection and detection and conversionconversion- Derived dataDerived data
-- Source selectionSource selection
-- Source attributionSource attribution
INPUT INPUT PROCESSINGPROCESSING
* Automatic * Automatic web web wrappingwrapping
-- SemiSemi--structured textstructured text
--MultiMulti--source source query plan and query plan and executionexecution
Data Data basesbases
Web Web PagesPages
ReceiversReceivers SourcesSources
TRUSTED TRUSTED AGENTSAGENTS
BrowsersBrowsersAPPLICATIONS: Financial services, electronic APPLICATIONS: Financial services, electronic commerce, asset visibility, incommerce, asset visibility, in--transit visibility.transit visibility.
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Emerging TechnologiesEmerging Technologies
Web wrappersWeb wrappers
ExtractExtract selected information from webselected information from web
Allows web to be treated as large databaseAllows web to be treated as large database
Context mediatorsContext mediators
ResolveResolve semantic (meaning) semantic (meaning) differencesdifferences
Enable meaningful aggregationEnable meaningful aggregation
& comparison& comparison
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Role Of ContextRole Of Context
CONTEXT VARIATIONS:CONTEXT VARIATIONS:- GEOGRAPHIC ( US vs. UK )GEOGRAPHIC ( US vs. UK )
-- FUNCTIONAL (CASH MGMT vs. LOANS )FUNCTIONAL (CASH MGMT vs. LOANS )
-- ORGANIZATIONAL ( CITIBANK vs. CHASE )ORGANIZATIONAL ( CITIBANK vs. CHASE )
Context Context
Context
Data:- Databases- Web data- Email
$ £
¥
01-02-03
03-02-01
02-01-03
?
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Example : Context DifferencesExample : Context Differences( from multiple web sources)( from multiple web sources)
Daimler Benz ( DAI ) Key RatiosDaimler Benz ( DAI ) Key Ratios
P/E RatioP/E Ratio EPSEPS DividendDividend
ABCABC 11.611.6 0.290.29
BloombergBloomberg 5.575.57 15.3215.32 8.1278.127
DBCDBC 19.1919.19 4.364.36 0.8990.899
MarketGuideMarketGuide 7.467.46 10.8310.83 0.470.47
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The 1999 OvertureThe 1999 Overture
UnitUnit--ofof--measure measure mixup mixup tied to tied to loss of $125Million Mars Orbiterloss of $125Million Mars Orbiter
“NASA’s Mars Climate Orbiter was lost because “NASA’s Mars Climate Orbiter was lost because engineers did not make a simple conversion from engineers did not make a simple conversion from English units to metric, an embarrassing lapse that English units to metric, an embarrassing lapse that sent the $125 million craft off course. . . .sent the $125 million craft off course. . . .
. . . The navigators ( JPL ) . . . The navigators ( JPL ) assumed metric unitsassumed metric units of of force per second, or force per second, or newtonsnewtons. In fact, the numbers . In fact, the numbers were in poundswere in pounds of force per second as supplied by of force per second as supplied by Lockheed Martin ( the contractor ).”Lockheed Martin ( the contractor ).”
Source: Kathy Sawyer, Boston Globe, October 1, 1999, page 1.
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COntextCOntext Interchange (COIN) TechnologyInterchange (COIN) Technology
ContextContextMediatorMediator
Source (s)Source (s) Receiver (s)Receiver (s)
ReceiverReceiverContextContext
ConversionConversionLibrariesLibraries
SourceSourceContextContext
SharedSharedOntologiesOntologies
ContextContextTransformationTransformation
Context ManagementContext Management
ConceptConcept: Length: Length
Meters FeetMeters Feetfunction( )function( )
meters feetmeters feet
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COIN Implementation of COIN Implementation of Global Comparison AggregationGlobal Comparison Aggregation
USA France UK Sweden
WEB
Regional Aggregators
…
Cameleon Web Wrapper
Ontology,ElevationAxioms
ContextKB
COINMediator Optimizer
Users get meaningful aggregated results
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Sample Contexts and ConversionsSample Contexts and Conversions
Live Demo: http://soursop.mit.edu/gcms/demo/Demo.jsp?app_id=431&qindex=0
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OverviewOverview
Aggregator definition, types & examplesAggregator definition, types & examples
Emerging Global AggregationEmerging Global Aggregation
Enabling TechnologiesEnabling Technologies
Legal, Cultural, and Policy IssuesLegal, Cultural, and Policy Issues
SummarySummary
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Legal, Cultural, and Policy IssuesLegal, Cultural, and Policy IssuesRegarding AggregationRegarding Aggregation
Protection of investment in data Protection of investment in data vs vs rere--useuseEU Database DirectiveEU Database Directive4 proposed bills in US4 proposed bills in US
Protection of consumer privacyProtection of consumer privacyEU Data DirectiveEU Data DirectiveGLBA most relevant to account aggregationGLBA most relevant to account aggregationand many other related lawsand many other related laws
Liability, consumer protection, jurisdictionLiability, consumer protection, jurisdiction
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Database ReDatabase Re--Use Lawsuits and ClaimsUse Lawsuits and Claims
Example CasesExample CaseseBayeBay vs. Bidder’s Edgevs. Bidder’s Edge
HomeStoreHomeStore.com vs. .com vs. Bargain NetworkBargain Network
First Union vs. First Union vs. PayTrustPayTrust
mySimon mySimon vs. vs. PricemanPriceman
Register.com vs. Register.com vs. VerioVerio
TicketmasterTicketmaster vs. vs. Tickets.com
Principles UsedPrinciples Used•• Copyright infringementCopyright infringement
•• Trespass to chattelsTrespass to chattels
•• Breach of contractBreach of contract
•• MisappropriationMisappropriation
•• False advertisingFalse advertising•• Violation of the Computer Violation of the Computer
Fraud and Abuse ActFraud and Abuse Act•• . . . . . . Tickets.com
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“ Copyright infringement ”“ Copyright infringement ”Protects original works of authorship Protects original works of authorship
Usually not applicable to data reUsually not applicable to data re--useuse
“ Trespass to chattels ”“ Trespass to chattels ”eBay vs. Bidder’s EdgeeBay vs. Bidder’s Edge
Injunction on May Injunction on May 24, 200024, 2000
Ticketmaster Ticketmaster vs. vs. Tickets.comTickets.com
“it is hard to see “it is hard to see how entering a how entering a publicly available publicly available web site could be web site could be called a trespass”called a trespass”
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Battle over Database ReBattle over Database Re--Use Use --continuedcontinued
New Paradigm New Paradigm –– “sweat of the brow”“sweat of the brow”Collections of InformationCollections of Information AntipiracyAntipiracy Act, Act, H.R.354 (1999) H.R.354 (1999) –– Coble billCoble bill
Consumer and Investor Access to Information Consumer and Investor Access to Information Act of 1999, H.R. Rep.1858 (1999) Act of 1999, H.R. Rep.1858 (1999) –– BlileyBliley billbill
Two other failed bills in 1996, 1997Two other failed bills in 1996, 1997
EU Database DirectiveEU Database Directive
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Privacy ProtectionPrivacy Protection63.6% users and 76.1% non63.6% users and 76.1% non--users believe users believe that online users that online users put their privacy at riskput their privacy at riskPrivacy law is highly decentralizedPrivacy law is highly decentralized
Title V of Title V of GrammGramm--LeachLeach--BlileyBliley ActActFair Credit Reporting ActFair Credit Reporting ActRight to Financial Privacy ActRight to Financial Privacy ActElectronic Communications Privacy ActElectronic Communications Privacy ActComputer Fraud and Abuse ActComputer Fraud and Abuse ActFederal Educational Rights and Privacy ActFederal Educational Rights and Privacy Act
TradeTrade--off: Industry relies on information sharing and reoff: Industry relies on information sharing and re--useuseOver protection will cause reduction in efficiency, fraud detectOver protection will cause reduction in efficiency, fraud detection ion capability, and quality of servicescapability, and quality of services(call centers, pre(call centers, pre--filled applications, relationship pricing, proactive filled applications, relationship pricing, proactive offers, targeted marketing, 3offers, targeted marketing, 3rdrd party services)party services)
Financial Service Roundtable estimate impact: $17B; 320 M HrsFinancial Service Roundtable estimate impact: $17B; 320 M Hrs
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International DifferencesInternational Differences
U.S. E.U.DecentralizedDecentralized
SelfSelf-- regulationregulation
No DB protection lawNo DB protection law
OptOpt--out for privacy
CentralizedCentralized
Specific, strict regulationSpecific, strict regulation
DB DirectiveDB Directive
OptOpt--in for privacyout for privacy in for privacy
Reciprocity provisionReciprocity provision•• Not protected if home country does not have similar law for DB Not protected if home country does not have similar law for DB
protectionprotection
•• No data flow to countries without similar privacy protection lawNo data flow to countries without similar privacy protection law
Harmonization is neededHarmonization is needed•• Safe Harbor Agreement between US and EUSafe Harbor Agreement between US and EU
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Other Trade BarriersOther Trade Barriers10 Categories identified by Office of U.S. Trade Representative:10 Categories identified by Office of U.S. Trade Representative:
1.1. Import policiesImport policies (e.g., tariffs, customs barriers)(e.g., tariffs, customs barriers)
2.2. Standards, testing, labeling and certification Standards, testing, labeling and certification 3.3. Services barriersServices barriers (e.g., limits on financial services offered by foreign (e.g., limits on financial services offered by foreign
financial institutions, regulation of international data flows, financial institutions, regulation of international data flows, restrictions on the use restrictions on the use of foreign data processing)of foreign data processing)
4.4. Trade restrictions affecting electronic commerceTrade restrictions affecting electronic commerce (e.g., tariff (e.g., tariff andand nontariffnontariff measures, burdensome and discriminatory regulations and measures, burdensome and discriminatory regulations and standards, and discriminatory taxation)standards, and discriminatory taxation)
5.5. Government procurement Government procurement 6.6. Export subsidies Export subsidies 7.7. Lack of intellectual property Lack of intellectual property 8.8. Investment barriers Investment barriers 9.9. Anticompetitive practices with trade effects tolerated by foreigAnticompetitive practices with trade effects tolerated by foreign governments n governments 10.10. Other barriers (barriers that encompass more than one category)Other barriers (barriers that encompass more than one category)
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OverviewOverview
Aggregator definition, types & examplesAggregator definition, types & examples
Emerging Global AggregationEmerging Global Aggregation
Enabling TechnologiesEnabling Technologies
Legal, Cultural, and Policy IssuesLegal, Cultural, and Policy Issues
SummarySummary
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Key Global Aggregation Insights & ImplicationsKey Global Aggregation Insights & ImplicationsInsightsInsights•• Everyone impactedEveryone impacted
•• AggsAggs not limited to price not limited to price comparisoncomparison
•• AggsAggs can be combined and can be combined and aggregatedaggregated
•• AggsAggs create new info spacescreate new info spaces
•• AfterAfter--agg agg even more importanteven more important
•• New technologies emergingNew technologies emerging
•• Business models and market Business models and market conditions continue to changeconditions continue to change
ImplicationsImplications•• Be part of strategy planningBe part of strategy planning
•• Identify new Identify new Agg Agg applications applications and business opportunitiesand business opportunities
•• Entirely new types of Entirely new types of applications can be definedapplications can be defined
•• Who will own this spaceWho will own this space
•• This must be exploitedThis must be exploited
•• Exploit these technologiesExploit these technologies
•• Must be prepared for changesMust be prepared for changes
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The 1805 OvertureThe 1805 OvertureIn 1805, the Austrian and Russian Emperors In 1805, the Austrian and Russian Emperors
agreed to join forces against Napoleon. The Russians agreed to join forces against Napoleon. The Russians said their forces would be in the field in Bavaria by said their forces would be in the field in Bavaria by Oct. 20Oct. 20..
The Austrian staff planned based on that date in The Austrian staff planned based on that date in the the Gregorian calendarGregorian calendar. Russia, however, used the . Russia, however, used the ancient ancient Julian calendarJulian calendar, which lagged 10 days behind., which lagged 10 days behind.
The difference allowed Napoleon to surround The difference allowed Napoleon to surround Austrian General Mack's army at Austrian General Mack's army at UlmUlm on Oct. 21, well on Oct. 21, well before the Russian forces arrived.before the Russian forces arrived.
Source: David Chandler, The Campaigns of Napoleon, New York: MacMillan 1966, pg. 390.
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Current Projects Current Projects ( partial list )( partial list )• Aggregation strategies Aggregation strategies (e.g., Open aggregation)(e.g., Open aggregation)•• Regional & Global Aggregation: Regional & Global Aggregation: Cultural & legalCultural & legal•• MultiMulti--enterprise enterprise eBusinesseBusiness: : Trust & relationshipsTrust & relationships
•• Financial services/Internet support for Financial services/Internet support for SME’sSME’s•• Future Financial Services Future Financial Services (e.g., Wireless aggregator)(e.g., Wireless aggregator)
•• Context Mediation & Web data extraction *Context Mediation & Web data extraction *•• Data Quality & What XML will and will Data Quality & What XML will and will notnot dodo•• Internal & Industry data standards effortsInternal & Industry data standards efforts•• Other new technologies Other new technologies (e.g., Mobile aggregation)(e.g., Mobile aggregation)
* Patents awarded in 1999* Patents awarded in 1999
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For Further Information and ContactsFor Further Information and Contacts
MIT Research:MIT Research:–– http://context2.http://context2.mitmit..eduedu and and
http://context2.http://context2.mitmit..eduedu/aggregation/aggregation–– http://web.http://web.mitmit..eduedu//tdqmtdqm
MIT Technology Licensed Software:MIT Technology Licensed Software:–– http://web.http://web.mitmit..eduedu/smadnick/www/patents.html/smadnick/www/patents.html
Email Contact: Email Contact: –– Stuart Madnick at smadnick@Stuart Madnick at [email protected]–– Michael Siegel atMichael Siegel at msiegelmsiegel@@mitmit..eduedu
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AcknowledgementsAcknowledgementsResearch funded, in part, byResearch funded, in part, by
Center for Center for eBusiness eBusiness @ MIT@ MITFleet BankFleet BankMerrill LynchMerrill LynchSuruga BankSuruga Bank
Other SponsorsOther SponsorsBanco SantanderBanco Santander (BSCH)(BSCH)CitibankCitibankDoDDoD Advanced Projects Agency (DARPA)Advanced Projects Agency (DARPA)MITRE CorporationMITRE CorporationPricewaterhouseCoopersPricewaterhouseCoopersSingaporeSingapore--MIT Alliance (SMA)MIT Alliance (SMA)