18 February 2018
visit www.nextgenbanking.co.uk/

Investment firms move to text mining and XML for research, says report

13 May 2002  |  3480 views  |  0 Investment firms move to text mining and XML for research, says report

Business processes are becoming increasingly structured at buy and sell-side financial institutions as a result of advances in text mining technology and emerging XML standards, according to a new report from IT consultancy The Intertek Group.

The report, "Leveraging Unstructured Data in Investment Management," suggests that advances in text mining technology and emerging XML standards in finance are revolutionising the ability to extract value from unstructured and semi-structured data.

Research shows that basic text mining functionality is now mature, with advanced functionality such as summarisation and visualisation adding powerful analytical capability.

The study also shows good progress being made towards defining XML standards in finance. These standards will stipulate how the entire universe of financial information - from time series to analyst and corporate reports and news - will be described. According to the report, this will take us from free text search to the ability to perform powerful queries on semi-structured data.

Sergio Focardi, co-author of the report, says: "In today's difficult business environment, with the number of analysts on the investment side dropping and the number of firms being researched likewise dropping, these developments hold the promise of allowing market participants to use more sources of information efficiently."

Focardi also suggests financial firms will combine text and data mining in applications such as fundamental research, event analysis, compliance and CRM.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Vendors develop draft XML-based securities finance data standard

Vendors develop draft XML-based securities finance data standard

07 May 2002  |  4504 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.swift.com/your-needs/instant-paymentsvisit http://info.nice.comVisit www.vasco.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10469 views comments | 16 tweets | 11 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8257 views comments | 15 tweets | 41 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
7745 views 10 comments | 21 tweets | 26 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
7618 views 3 | 9 tweets | 4 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job