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?
Rising from the ashes of the traditional banking industry in America, Kasasa (BancVue) is a website that offers customers savings and current accounts with a personal twist. In addition to the cashback and automatic savings plans commonly seen in the major banks, Kasasa has paired with less traditional partners such as charitable foundations and iTunes to give their customers a choice in what they do with their money. For example, the Giving account automatically donates high interest and a per-debit-transaction to your choice of one of 5 charities. The iTunes account comes with a number of free iTunes downloads per month.
The Russian post office has launched a new financial product for consumers. They can get a microcredit loan (between $100-200 USD) in any post office branch simply by presenting a piece of identification.