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Fig. 11.2.
Semantic Web services in e-government
As is explicitly denoted in Fig. 11.2, Semantic Web services provide the
semantic layer for automated Web service usage. Similar to the usage within
B2B commerce applications, the benefit of the WSMO framework is that it
not only provides a means for semantically describing Web services, but also
defines the other core elements of e-government applications based on Seman-
tic Web services. While WSMO mediators allow the handling of potential
heterogeneities that hamper interoperability, the notion of WSMO goals al-
lows one to specify the end user requirements in an explicit, unambiguous,
and machine-readable manner. For instance, the Stansted Airport flight man-
agement can define a goal of being notified when a storm is arriving that
might impair landing conditions in the airport; such essential information can
be seamlessly integrated into the flight management system.
11.3 E-Banking
Yet another application area for Semantic Web services and WSMO is e-
banking, i.e. Web-based IT solutions for processing, handling, and monitoring
financial transactions. The financial sector has always been an early adapter
to innovative technologies in order to manage the vast amount of informa-
tion that needs to be dealt with on a daily basis. Today's financial business
use IT to a very high extent, starting from customer management in private
customer bank branches, through credit card business and online banking, to
professional day-trading technology such as Bloomberg Professional, a system
used by investment brokers all over the world.
Because of the monetary value of the information interchanged, security
of data and transactions and system stability are the primary and the critical
factors for success of IT solutions for the banking business. However, [25]
observes certain shortcomings of the existing technologies used in the financial
sector that can be overcome, or at the very least, addressed, with semantic
technology:
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