Introduction

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

[email protected]

Gordon K.T. LAUDept. of Computer Science Hong Kong University of

Science & [email protected]

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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

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Typical Flow of Property Acquisition

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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

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Message Flow

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System Architecture

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Web Service Operations

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UML Concept Model for EMS

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Sample WSDL

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Sample SOAP Message

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Mortgage Quote Request Flow

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Mortgage Quote Process Flow

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XML with Security Control

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Example Weight XML

N

j jj=1

Score = W * V

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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

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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

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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

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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

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Question and Answer

Thank you!