A really good place to start (before scraping various data sources) would be to explain how the output will be organized.
For example, it looks from the bottom of the map that they're classifying institutions as:
* Consumer Credit
* Other
* Mortgage
* Debt Collection
* Bank/Trust
* Insurer
* Authorized Agent
* Mutual/Co-op/Credit Union
What is the rationale for this classification scheme? Are there going to be second level classifications? For example, most large commercial bank/trusts have mortgage arms, consumer credit arms (credit cards and other lines of credit), consumer debt, wealth management, etc.
Hell, take just one sub-industry: wealth management. A large bank will have a trust department ("private wealth" or "private banking"), a Registered Investment Advisor (RIA), and a Broker/Dealer. They're sometimes completely separately managed. They're different legal entities and regulated by different government organs (FINRA for the broker/dealer and the OCC/SEC for the other two). And that's just wealth management.
Just getting a zoology of financial institutions would be a great start.
Hi, Chris from OpenCorporates.
We're also getting the native classifications, i.e. those given by each regulators, and in a sense these are mappings. When researching this, the are many, many different classifications (particularly in the consumer finance and shadow banking area), and one of the side benefits this will surface those classifications, laying one of the foundations for a more formal ontology.
The only thing I'll add is that there are very useful classifications beyond how the regulators see it. That data are much harder to get, but very useful. For example, RIAs are a world unto themselves, but they can be reasonably segmented in a few different ways: subadvisors vs direct advisors, asset gatherers vs. asset managers, use open architecture vs. not.
For example, it looks from the bottom of the map that they're classifying institutions as:
* Consumer Credit
* Other
* Mortgage
* Debt Collection
* Bank/Trust
* Insurer
* Authorized Agent
* Mutual/Co-op/Credit Union
What is the rationale for this classification scheme? Are there going to be second level classifications? For example, most large commercial bank/trusts have mortgage arms, consumer credit arms (credit cards and other lines of credit), consumer debt, wealth management, etc.
Hell, take just one sub-industry: wealth management. A large bank will have a trust department ("private wealth" or "private banking"), a Registered Investment Advisor (RIA), and a Broker/Dealer. They're sometimes completely separately managed. They're different legal entities and regulated by different government organs (FINRA for the broker/dealer and the OCC/SEC for the other two). And that's just wealth management.
Just getting a zoology of financial institutions would be a great start.