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?
Portugal’s Banco Espirito Santo (BES) are currently promoting ‘BES Arte & Finance’, a space where contemporary art mingles with financial services. Located in Lisbon’s financial district, the initiative is aimed to bring modern art to the masses and give something back to the community.
Fidor Bank from Munich promises their customers they will increase their interest rate depending on the amount of likes they get on their Facebook page. The rate will go up by 0.1% for every thousand fans, though the maximum increase is set at 1.5 per cent in 2012.