SINGAPORE FINTECH STARTUP, MYFINB JOINS FORCES WITH IBM WATSON TO ROLL OUT A SUITE OF ROBOADVISORS FOR THE GLOBAL MARKETS
Singapore 17 March 2017 – IBM is working with Singapore FinTech startup, MyFinB to help banks, government agencies, enterprises and accountants/auditors make more informed financial decisions by using IBM Watson cognitive technologies.
This collaboration entails combining MyFinB’s proprietary Natural Language Generation (NLG), Decisioning Algorithms and Financial Ratings with IBM Watson’s Alchemy Language and Personality Insights Application Programming Interfaces (APIs) on the Watson Developer Cloud.
The Watson Personality APIs will support MyFinB’s system-generated analytical reports and roadmaps by incorporating macro perspectives and perception ratings from social media, enterprise data and other digital communications. It will also allow them to infer individuals’ intrinsic personality characteristics, including Big Five, Needs, and Values, from digital communications such as email, text messages, tweets, and forum posts, using linguistic analytics.
The use of artificial intelligence technologies to process both structured and unstructured data will ultimately provide clients with a more robust financial analysis of a particular company, industry or economy in the following ways:
- Risk management – Anticipate risks or red flags, and take pre-emptive measures to allocate optimal capital-risk level.
- Business performance – Evaluate gaps and opportunities, strengthen their financial position, and ultimately improve their return of investment (ROI).
- Productivity – Unravel areas of inefficiency with ease, and help rationalise costs and resource allocation to increase value-added output.
MyFinB is a decision management tool that helps top management make sense of accounting, HR, operational and marketing data to make better decisions. It runs on an artificial intelligence engine that processes structured and unstructured data obtained internally and externally.
About IBM Watson
About IBM Cloud