Web-service Based Information Integration for e-Mortgage Contract Matchmaking Decision Support: A...
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Transcript of Web-service Based Information Integration for e-Mortgage Contract Matchmaking Decision Support: A...
Web-service Based Information Integration for e-Mortgage
Contract Matchmaking Decision Support:
A Case Study in Hong Kong
Dickson K. W. CHIUSenior Member, IEEE
Dickson Computer SystemsHong Kong
[email protected], [email protected]
Patrick C. K. HUNGFaculty of Business and Information Technology,
University of Ontario Institute of Technology
Gordon K.T. LAUDept. of Computer Science Hong Kong University of
Science & [email protected]
Mortgage DSS HICSS39 - 2
Introduction Effective decision making often requires disparate
information from heterogeneous sources Significant contracts required gathering such
information particularly slow and inefficient Few studies in the end-users perspective Case Study: HK real estate business
$$$$$ => important decision to end-user Complexity of terms and conditions Tedious and time-consuming process e-Mortgage Contract Matchmaking Service (EMS) Studies how the application of Web service technologies
helps
Mortgage DSS HICSS39 - 4
Stakeholders mortgage providers highly competitive value-added services competitive edge legacy systems customer segmentation
property buyers mortgage service applicants looking for mortgage plans individual financial needs additional channels accurate, timely, convenient, secure complexity
Representatives of buyers provide advice and service in selecting
properties earn commission add-on service to attract and assist
customers in property acquisition
Authorities / 3rd party institutions providing credit history / rating unbiased to various parties
Mortgage DSS HICSS39 - 15
Ranking
Mortgage Components Offer A Offer B Expected
Interest (%) 5 6 5.5
Monthly Payment Amount 7000 6000 6500
Duration (Months) 120 300 180
Mortgage Components Offer A Offer B Weight
Interest (%) 0.5 (5.5 – 5) -0.5 (5.5 -6) 5
Monthly Payment Amount -500 (6500 – 7000) 500 (6500-6000) 3
Duration (Months) 60 (180-120) -120 (180-300) 10
Mortgage DSS HICSS39 - 16
Ranking - Result
Mortgage Component
Offer A (variation)
Offer B (variation) Weight
Interest (%) 2.5 (0.5 * 5)
-2.5 (-0.5*5)
5
Monthly Payment Amount
-1500 (-500 * 3)
1500 (500 * 3)
3
Duration (Months) 600 (60 * 10)
-1200 (-120 * 10)
10
Total (Score) -397.5 297.5
Mortgage DSS HICSS39 - 17
Summary Web services integrates disparate information to
facilitate decision support Attempts to address real-life problems: complexity
of contracts and decision Value added service from end-users’ perspective Web Service Architecture (WSA)
provides an efficient channel to communicate among parties in the business processes
extend the value of current legacy systems less paper exchange more automated and accelerated processes
Mortgage DSS HICSS39 - 18
Future Work
Further enhancement and automotion of the mortgage application workflow
Reach a state of paperless and all-in-one stop for mortgage applications
Enhance the current built-in raking function: pattern recognition and data mining techniques
Abstracting the experience gathered from our case study to a higher level methodology and meta-model
Application of ontologies