Current Financing Options for Home Buying

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					               Requirement (Illustrative use case = complex/ relatively
Requirement
                complex scenario's such as buying a car, planning a
  Number
                                      vacation)




              Establish a persistent Digital Identity that I can use
     1
              as my point of integration with the electronic realm




              Append persona to this identity to reflect different
     2        facets of / situations in my life (including
              anonymity/ psuedonymity)
    Append/ link to data pertaining to me to my Digital
3   Identity/ persona in ways that enable
    manipulation, aggregation & onward sharing




    Enhance this data by adding context (derived
4   variables, meta data, statistical info, inc enabling
    selective/ minimal disclosure)




    Enhance this data by adding second or third party
5   verification, reputation, recognition at data
    attribute level
    Enable, normalize, standardize my data to be
6
    aggregated with that of others (on my terms)




    Find/ discover/ contact (through automated
    processes) suppliers able/ willing to accept VPI;
7   screen out, filter, ignore suppliers unable to comply
    with/ respond to my terms and conditions. Find,
    categorise, validation (multiple validation)




    Initiate, establish a VPI sharing relationship,
8   including contract signing; sharing can be a one
    off, time-limited, or ongoing basis




    Assert conditions/ exceptions of use at the data
9
    attribute level
     Build and maintain my list of VPI contracted
10   relationships; monitor reputations of entities on my
     list of relationships




     Undertake VPI sharing activity, including
11   acknowledgement of receipt, maintaining updated
     history and an audit trail




     Receive payment (financial, loyalty offers or
12
     otherwise) for VPI sharing




     Implement Audit schedule to determine whether
     VPI contractual commitments have been/ continue
13
     to be met by recipient (including use at data
     attribute level)
     Terminate, suspend, penalize a non-compliant or
14
     no longer relevant data sharing relationship




     Kantara Initiative - User Driven and Volunteered
     Personal Information Working Group 2009
                             Underpinning logic




Until such time as an individual has access to a non-vendor controlled digital
identifer then they will to some extent or other be dependent on that vendor
for the management and use of the individual's personal information assets.
At present, this capability is limited to advanced tech users (e.g. self issued/
managed open ID). It is possible for organisations to provide an individual
with such a capability, but to be genuinely user-driven the principles of Data
Portability would also have to be enshrined in the offer.




An individual only has one body/ brain, but multiple persona (facets of life,
e.g. Husband, Father, Director, Citizen) which typically carry separate needs,
wants and obligations, and which can have differing degrees of robustness,
disclosure and longevity. To enable an individual in the digital world, we
must deploy an architecture that supports this degree of complexity.
An individual typically does not have 'all of their eggs in one basket', either
due to the different persona issued noted above, or because they wish/ need
to to spread their supply relationships across multiple organisations. As
such, by default the individual needs to draw on/ link to data in more than
one silo in order to do the things they wish to/ need to do.




Data needs context and enhancement in order to become information. This
meta data (data about data) can often enable the avoidance of disclosing or
sharing the underlying data itself (e.g. I'm over 18 and I can prove it is a
lesser disclosure than a full date of birth).




Some data attributes need to be verifiable in order to be most usable (e.g.
licence to drive, age, credit limit). This is achieved by bringing data (with
tamper-proof seal/ date & time stamp) in from/ linking to the legally
authoritative source for the attribute in question.
Aggregation of data can bring useful benefits (e.g. aggregation of demand to
improve a negotiating position) to the individual and to the recipient of the
aggregate view.




An individual should be able to 'raise a flag' to have an expression of
demand or a desire for interaction noticed (discovered) by existing and
potential suppliers. This discovery process should work on a 'computer to
computer basis', and only respondents able/ willing to provide the sought
service or interaction should be found.


A VPI sharing relationship can be instigated within an existing supply
relationship as an amend/ extension, or at the beginning of a new supply
relationship. This is likely to involve the signing of a contract by the
organisation, either directly with the individual or via an agent working on
behalf of the individual. Current assumption is that there will be a small
number of contract options in order to increase usability, and that they be
machine-readable in order to enable machine to machine communication.
Creative Commons is an example of this approach. The contractual aspect is
likely to mean that identity assurance is a requirement that technology must
enable/ support in this area.




Current approaches to privacy legislation fail by operating at too high a
level…at the level of principle rather than specific practice. This is not an
acceptable level of protection for VPI to flow (as evidenced by the fact that it
does not flow freely at present); VPI requires contracted terms of use at the
individual data attribute level (although these can be grouped where
helpful).
The individual must have access to a largely self-managing list of VPI
contracts in place. A sub-set of this issue is the data management task of
accessing and managing the oft-changing list of supply organisations.




Under established contracts, VPI should flow through technologies which
recognise the value of the asset - including acknowlledging issue and reciept
at all appropriate points. A full, detailed audit trail with date and time
stamps on each attribute shared (including what it can be used for, how long
it can be kept and under contractual terms).




As per other asset transfers, VPI sharing can and will be accompanied by
payment from recipient to give (governed by the aforemention contracts). In
some cases cash payment may not be required (payment in kind will be an
option - e.g. improved service, premum access to services etc).
Micropayments may be required for low value transactions, and
management of VPI accounts a core capability.




VPI contracts must be enforceable and this will require an audit and
compliance programme; this will be technology enabled (supported by the
logging of all VPI sharing at detailed levels).
Most supply relationships come to a logical end, some because the supply
organisation does not meet contracted requirements (inc VPI contracts). In
this situation, VPI contracts will be terminated, this should be supported by
VPI technology standards and protocols.
 Impact of UD & VPI on Buying a Car Scenario (high level, buyer
                         perspective)




Having this capability in place provides the PLATFORM for the car
buyer to bring all of their relevant historic and current data to the
table - this is 'plumbing level'.




The individual may be buying the car as an individual, a business
owner, an employee with related discounts/ benefits. These
persona may also be relevant across the related components of
the entire car solution - which might include financing, insurance,
parking permits, breakdown coverage, accessories and regulatory
updates (vehicle ownership).
In buying a car and the related solution components, an individual
will have to draw on data (which may or may not be in digital
form) from multiple aspects of life/ existing supply solutions - all
provide the context for the car buying scenario. Relevant data
would include home location, existing vehicle (if any), its
ownership status, its value, new vehicle requirements (size, type,
rough cost etc), brand preferences, colour preferences, pertinents
dates/ timing requirements, available finance, cash flow and other
purchases being processed in parallel. And, of course, there may
be multiple parties involved in the purchase decision (e.g.
husband and wife) with some differing preferences to be taken
into account.




When the above data is combined within the personal data
store(s), it becomes a buying information bank for the individual
for use throughout and beyond this specific sourcing exercise. This
buying information bank might well include both structured and un-
structured data. In terms of data enhancement added at this
stage, it may include for example...that 'my current insurance
provider is X and I rate them overall 5 out of 10', or 'i've bought
my last 5 cars from Dealer X and i've always had great deals - but
the servicing is very expensive'. This modus operandi is likely to
include the individual being able to prove their buying intent
without sharing their personal/ contact details - and thus begin
the negotiation process from a stronger stand point than is
available at present.

It will be useful in various stages of the buying process to use
external data to smooth interactions and transactions. For
example, the individua might wish to offer proof of their
employment status, their income, their credit rating, or that they
have specific funds in place for the car buying scenario. The supply
side (manufacturer, dealer or other intermediary) might wish to
offer verification of their own, their vehicle or the related solutions
'green' credentials, of of vehicle performance. This external data
can be 'pinged' for a one time, tactical use, or copied to the
indivduals personal data store for ongoing use (with time/ date/
source stamp).
The above information and buying process support offers good
value to the individual, but without standardisation of data is
could be left as an island/ personal silo. When some/ all of the
data within the buying support tool is standardised, it can then be
opened up to the many possibilities offered by the open web.




In the current modus operandi, car manufacturers and dealers
target individuals with above and below the line (push) marketing
to build awareness and solicit responses. In the UD & VPI enabled
world, these messages will be 'pulled' by the individual only when
relevant - leading to much less waste for all parties. Screening
and tools may be used by the individual to filter out irrelevant
messages from suppliers continuing with push marketing.

In the UD & VPI enabled world, many more interactions and
transactions will be 'machine to machine', with identity and other
data attributes verified by those involved or by external parties as
necessary. In the car buying scenario, most of the search/ filter/
negotiate/ transact cycle can be automated - but only when the
organisation is able to engage contractually with the user driven
or volunteered personal information. The rich, valuable data
involved would not otherewise be released to the car
manufacturers and dealers because in the current modus operandi
this data would be used against the buyer in the selling process.




An individual might, for example, allow their contact details to be
used for the purpose of a specific car buying scenario, but
mandate that it then be removed from marketing databases and
not used for further communications.
The individuals UD & VPI audit file would build a record of what
volunteered information had been shared under which conditions
with which organisation.




User driven and volunteered information would flow, often on a
machine to machine basis - according to the preferences of the
individual…………...    Zero click ordering!!!!!!




Car dealers regularly pay over £500 per converted vehicle sale in
the current model. In the UD & VPI model, this might reduce to
£400 (for example), with £375 of that flowing to the buyer (as
cash payment or discount), and the remainder made available to
intermediaries and market makers.




The ability to audit suppliers for contractual compliance would be
a contractual requirement; it is likely that outsourced services
would emerge to enable this.
An individual would have sole control over functions that would
terminate a UD & VPI sharing relationship at any point in time.
What this means for historic data created would be part of the
contractual terms and conditions.
Impact of UD & VPI on Buying a Car Scenario (high level, seller
                        perspective)
                                                                                         Likely
                                                                                        Relevant
                                                                                      Technologie
           Requirement for Identity Assurance (in Buying a Car Scenario)                  s for
                                                                                      Investigatio
                                                                                         n (part
                                                                                       complete)




                                                                                      Open ID,
                                                                                      XRI/ I-
                                                                                      name, ID
                                                                                      WSF
                                                                                      Personal
                                                                                      Profile
                                                                                      Manager,
                                                                                      SAML 2.0,
                                                                                      Higgins




                                                                                         XRI/ I-
                                                                                         name,
                                                                                         Database
All claims over and above a straightforward individual buyer may well require higer
                                                                                         Manageme
levels of identity assurance (level 1/ level 2 in UK parlance, level 2/ level 3 in USA).
                                                                                         nt Systems
Precise impact likely to be a function of financial benefit of the assertion being
made.                                                                                    (e.g.
                                                                                         postgres,
                                                                                         My SQL),
                                                                                         Higgins
Database
Manageme
nt
Systems,
RSS, XML,
Screen
Scrapers,
XDI,
Search
maps
(looking for
right now,
don't want
to see),
plug in for
IE,
tiddlywiki


Database
Manageme
nt
Systems,
RSS, XML,
Screen
Scrapers, U-
Prove, XDI,
Search
maps

Database
Manageme
nt
Systems,
RSS, XML,
Screen
Scrapers,
ID WSF,
Higgins,
XDI
Database
Manageme
nt
Systems,
RSS, XML,
Screen
Scrapers,
Higgins,
XDI




ID WSF,
XDI,
Higgins




ID WSF,
XDI,
Higgins,
Database
Manageme
nt Systems



ID WSF,
XDI,
Higgins,
Database
Manageme
nt
Systems,
CARML,
Aristotle
XDI,
Higgins,
Database
Manageme
nt Systems




Information
Cards,
Cardspace,
XDI,
Higgins




Transaction
processing
engines,
CRM
systems,
account
manageme
nt systems




Information
Cards,
Cardspace,
XDI,
Higgins, ID
WSF
Information
Cards,
Cardspace,
XDI,
Higgins, ID
WSF
 Points of
           Specific Queries
 Contact




Open ID
(David
Recordon),
XRI
(Drummon
d Reed), ID
            Open ID for
WSF (Paul
            low value,
Madsen),
            Open ID
SAML 2.0
(Eve
Maler),
Higgins
(Paul
Trevithick)



XRI/ XDI
(Drummond
Reed),
Higgins
(Paul
Trevithick),
DBMS (?)
XRI/ XDI
(Drummond
Reed),
DBMS (?),
RSS (?),
XML (Eve
Maler?),
Screen
Scrapers (?)




XRI/ XDI
(Drummond
Reed),
DBMS (?),
RSS (?),
XML (Eve
Maler?),
Screen
Scrapers (?),
U-Prove
(Stefan
Brands)



XRI/ XDI
(Drummond
Reed),
DBMS (?),
RSS (?),
XML (Eve
Maler?),
Screen
Scrapers (?)
XRI/ XDI
(Drummond
Reed),
DBMS (?),
RSS (?),
XML (Eve
Maler?),
Screen
Scrapers (?),
Higgins
(Paul
Trevithick)
XRI/ XDI
(Drummond
Reed), ID
WSF (Paul
Madsen),
Higgins
(Paul
Trevithick)

XRI/ XDI
(Drummond
Reed), ID
WSF (Paul
Madsen),
Higgins
(Paul
Trevithick),
DBMS (?)

XRI/ XDI
(Drummond
Reed), ID
WSF (Paul
Madsen),
Higgins
(Paul
Trevithick),
DBMS (?),
CARML/
Aristotle
(Phil Hunt)
XRI/ XDI
(Drummond
Reed),
Higgins
(Paul
Trevithick),
DBMS (?)
Information
Cards
(charles
Andres),
Cardspace
(?),XRI/ XDI
(Drummond
Reed),
Higgins
(Paul
Trevithick),
DBMS (?)
Transaction
processing
engines (?),
CRM
systems
(Iain
Henderson),
account
managemen
t systems
(?)
Information
Cards
(charles
Andres),
Cardspace
(?),XRI/ XDI
(Drummond
Reed),
Higgins
(Paul
Trevithick),
ID WSF
(Paul
Madsen)
Information
Cards
(charles
Andres),
Cardspace
(?),XRI/ XDI
(Drummond
Reed),
Higgins
(Paul
Trevithick),
ID WSF
(Paul
Madsen)

				
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Description: Current Financing Options for Home Buying document sample