INSUBCONTINENT EXCLUSIVE:
By Tanvir GillArtificial Intelligence is
en vogue, and yet, meaningful applications are only now emerging from the vast amount of hype that
surrounds machine learning.
The real value of AI lies in scaling up user experiences while ensuring they remain personalised and rewarding
This is particularly relevant for financial services where clients demand high quality service, tailored advice and best execution.
No
wonder, large financial institutions are excited about AI and keen to explore its potential in data collection, analysis, process automation
Big possibility brings in even bigger challenges, and many banks, brokerages and wealth managers are simply not geared towards building
cutting-edge technology and managing its implementation
Top developer talent in AI is tough to find and retain
And current development cycles are too long for fast moving financial markets
Banks and brokerages have traditionally seen themselves as financial, not technology companies
And yet, finance is rapidly becoming a technology business
The race is now on to adapt to this new landscape in order to improve profitability and position for future growth.
So, it comes as no
surprise that financial institutions are looking to partner with innovative fintech startups in order to leverage the power of AI and other
Founded in 2015 and based in London and NYC, the company uses AI and deep learning to enable financial institutions to acquire new clients,
stop client attrition and raise their activity levels
Their leadership team is ex-DE Shaw, Citadel, Goldman Sachs and Google
investment opportunities in Exchange Traded Fund (ETF) products
Arkera analyses more than 100,000 articles daily, uses NLP technologies to contextualise them and connect them with 2,000 different ETFs, a
process that would be impossible for any human to carry out
Arkera co-CEO Vinit Sahni emphasises the importance of storytelling
They prefer to look at big ideas, narratives and news rather than bottom-up fundamentals
can process huge amount of data, and when you inject financial domain knowledge into this process, you can empower self-directed investors
And it works particularly well for ETFs and other mass market financial products
experience mimics that of Spotify, Netflix and Amazon, making it very difficult for self-directed investors to walk away
They require deeper analysis than stocks and FX, and the choice facing self-directed investors is overwhelming
developments and update their clients
By automating this stage of the buying funnel, wealth managers free up resources and enable their advisors to spend more time with
distributed for wealth managers and their clients
and other participants, including DoCoMo Digital and Henry Ritchotte, ex-Deutsche Bank COO
This is part of a wider trend towards industry veterans and incumbents backing innovative fintech startups
Collaboration is powering the next phase of growth in financial markets.
(Tanvir Gill is Senior News Editor of ETNow)
