Financial Services (105)
Trading finance intelligence with Twitter
German economic scientists have set up an online platform called ‘TweetTrader’ that helps analyze stock and market information provided by tweets on Twitter. It aims at predicting market outcomes by using textual analysis filters and specific algorithms.
Why it matters
Market researchers are already relying on social media analysis tools to understand consumers better. Now the analysis of tweets is being transferred to financial / information markets. Will the expertise of some financial analysts become obsolete thanks to the wisdom of the crowd?
In New York, a new way of online banking is developing. Customers simply connect their bank account with their social media channels. Depending on how the consumer behaves online and what they share with Movenbank, they can get rewards such as a better interest rate or lower fees. The bank then validates the information and provides financial advice if needed.
‘Halkbank’ launched its "Reachable Bank24" project for people with physical disabilities. It allows customers to use the ATM machines on their own without needing any help. For example, visually challenged people can listen to the ATM machine talking to them through headphones.