Constructing a Semantic Business Process Modelling Language for the Banking Sector - An Evolutionary Dyadic Design Science Approach

Abstract

The need to extensively model business processes for multiple purposes (e.g., documentation, compliance management, analysis and optimisation etc.) is of major relevance to banks. Efficiently modelling and automatically analysing business process models not only in a syntactical but also in a semantic way becomes increasingly important in order to save costs during process model construction and achieve additional value from process modelling initiatives. In this article, we introduce a domain-specific semantic business process modelling language (BPML), which supports efficient modelling and semantic analysis needs of banks. We do this by adapting an existing domain-specific BPML from the public sector and applying an evolutionary design science research approach that covers several design science cycle iterations. We triangulate and evaluate the final design science artefact (a new semantic BPML for banks) with the help of a multi-method approach using interviews, round table discussions, document analysis, literature analysis and two in-depth case studies from a specialised bank and a universal bank in the financial sector.