Taxonomy Strategies has extensive knowledge and experience developing knowledge organization systems with diverse stakeholders in large multi-functional organizations using small group communications, task-based usability, capability design, and other techniques as appropriate. We have a history of providing a variety of services to the financial services sector with projects ranging from consumer to sovereign banking, from product marketing to anti-money laundering processes and procedures.
Taxonomy Strategies consultants are familiar with investment banking lines of business, operational business processes, information systems, local compliance requirements, and industry self-regulation such as ISDA OTC taxonomies. For Goldman Sachs, a well-known American multinational investment bank and financial services company, our taxonomy consultants designed a client onboarding taxonomy to replace a large, complex document classification scheme. The new taxonomy provides a few properties to characterize what a document is and why it is being uploaded. The new coding scheme is more transparent, easier to use, and more expressive, enabling more reliable and efficient retrieval of documents throughout the Goldman Sachs client lifecycle. We also outlined the governance model for maintaining the taxonomy including roles and responsibilities, procedures, and editorial guidelines.
At the Bank for International Settlements, an international financial institution owned by the world’s central banks, Taxonomy Strategies developed the metadata and categorization scheme for a new enterprise content management system to support document management and provide trusted searchable reference collections of reliable authoritative content. We established metrics for evaluating existing vocabularies based on use, homogeneity, completeness, style, languages, and granularity; identified new vocabulary needs; and built out the initial taxonomy. The new taxonomy has facilitated easy grouping of series of documents associated with routine processes, projects, and events.
Capital One needed to comply with FDIC transparency requirements. Our taxonomy consultants defined and validated use cases with business users, then developed and tested a metadata model and taxonomy to organize documents and links and facilitate searches and information retrieval. This information management strategy has supported searching, usage tracking, rights management, security, dynamic delivery of content, and personalization. Our consultants understand banking regulation, particularly requirements for decision-making transparency as required by SOX, Dodd-Frank and other legislation.
At Franklin Templeton Investments, Taxonomy Strategies consultants developed an enterprise content management application that complies with security industry regulations and supports customers globally. Our consultants defined a specification for taxonomic metadata, then developed implementation guidance for the specification, and prepared governance and maintenance process guidelines. The specification provided the means to automate the tagging and publishing processes, keep the taxonomy up to date, support dynamic delivery of content and personalization, and comply with security industry regulations and FINRA conduct rules.
Taxonomy Strategies understands how to assess taxonomy programs with input from various stakeholders and benchmark them against industry best practices. Deloitte Global Services has a very robust taxonomy service that includes the gathering and distribution of enterprise-wide vocabularies, as well as support for customized versions used in specific global and Member Firm applications. Routine changes and customizations make synchronization of these multiple versions complex. Taxonomy Strategies developed leadership recommendations for an enterprise taxonomy strategy, an action plan for short term improvements including input management and business process improvements, and a roadmap for future delivery methods and progress audits.
At Citizens Bank, our taxonomy consultants reviewed and assessed the content design, taxonomy, and user experience of the procedures knowledgebase, which contained more than 40,000 articles that were accessed by 19,000 employees. The assessment provided specific guidelines for an immediate content cleanup project including content redesign, content rewriting, and taxonomy and metadata improvements. By interviewing staff across lines of business and functional areas, our consultants quickly developed an understanding of the daily requirements for the knowledgebase and made effective recommendations on how to best meet those needs. Two years later we were re-engaged to help consolidate multiple intranets and move them to a common content management platform.