Luxembourg Institute of Science and Technology Background
Fintex is a news analytics platform to aid professionals in decision making by drastically increasing the volume of information analyzed by the user in a limited amount of time.
Increased information consumed results in better-informed professionals which equates to better decision making. Fintex provides a fully customizable suite of news data aggregation, visualization and prediction of financial indicators. In addition, Fintex utilizes state-of-the-art AI and NLP algorithms to provide an explanation of the predictions, in line with the EC’s AI Act of April 21, 2021. By combining news analytics with trustworthy AI, Fintex empowers finance professionals with technology that is incredibly transformative in managing an increasingly challenging environment.
Technology Overview
Fintex provides unparalleled news exploration and analytics capabilities through 4 modules: topic overview, topic detail, topic evolution, and XAI
Topic Overview: Aggregates and organizes thousands of news articles into similar topics with representative keywords sorted by importance, increasing browsing efficiency.
Topic Detail: Utilizes word associations to enable drilling down news articles for specific topics and entities.
Topic Evolution: Visualizes news artefacts on a timeline to identify evolution of topics over time.
XAI: Provides prediction of desired financial indicators along with explanations to facilitate transparency.
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Benefits
Fintex is designed to offer several benefits which enable the user to have access to more information in significantly less time.
Fintex offers unique drill-down capabilities to find relevant information from thousands of news articles.
Fintex equips the user with the capability to visualize the news timeline and understand evolution of specific topics over time.
Fintex uses principles and foundations of trustworthy, ethical and explainable AI and demonstrates its application in a business scenario to contribute insights of immediate and long-term value to stakeholders in the financial sector.
Applications
Fintex is developed for application in the financial services sector to support the explanation of predictive models and improve transparency and trust in the decision-making process. The text analytics aspect of Fintex includes many core functionalities of Papyrus, a visual text analytics software, owned by LIST that can be effectively used in several sectors, for example, healthcare or scientific literature review. Future use case being explored is the application of Fintex in benchmarking of financial products as per the sustainable finance disclosure regulation proposed by the CSSF and helping the financial industry create a favourable ESG impact for Luxembourg.
Opportunity
LIST are looking for industry partners in the financial service sector who are facing similar challenges in making sense of large amount of unstructured text data to extract actionable insights and aid critical decision making.
LIST are also looking for collaborators to further develop the functionalities offered by Fintex by implementing it as an industry use case and demonstrating its capabilities in handling real-time news generation.