Fintech is financial technology: finance + technology. It is to describe new tech that seeks to improve and automate the delivery and use of financial services.
Drivers of fintech include extremely rapid growth in data (including quantity, types, sources and quality) and technological advances enabling the capture and extraction of information from it. In the investment industry, fintech development areas include analysis of large datasets, analytical tools, automated trading, automated advice, and financial record keeping.
The three Vs are fundamental to Big Data:
The non-traditional sources include data generated by individuals, business processes and sensors, while the traditional sources are financial markets, businesses (e.g. financials, credit card purchases) and governments (e.g. employment and payroll data).
Artificial Intelligence and Machine Learning
As data sets get larger and more complex, investors need to use sophisticated data analysis techniques. The tools used for these tasks include:
Main types of ML include:
| ariseto: Structured data: highly organized information|
Unstructured data: complex data source, exc: email, photo, social media, ppt, text