摘要: In an increasingly competitive market, how are fintech companies adapting to improve their decision making? In industries such as insurance, capital markets, cryptocurrency, wealth and asset management — alternative data is proving to be a valuable source of insight.

 


 

Like a broken leaf to a hunter or a change of wind direction to a sailor, alternative data, though seemingly unrelated, is now providing tiny crumbs that act as clues to those in fintech.

Any data used to evaluate and make decisions about a company or an investment that is outside traditional sources i.e. financial statements, press releases, Securities and Exchange Commission (SEC) filings etc is regarded as alternative data.

ALTERNATIVE DATA AND CRYPTOCURRENCY

Cryptocurrency prices are sensitive to speculation-a factor that you don’t expect to find in any financial record. So how do investors gain predictive insight into a cryptocurrency like bitcoin?

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TWITTER SENTIMENTS

Social media, particularly Twitter, has shown a strong correlation to cryptocurrency prices; Nasdaq’s Analytics Hub, which provides data used by thousands of investors, is exploring cryptocurrency datasets that include social media sentiments and fund flows from crypto exchanges.

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ALTERNATIVE DATA AND CAPITAL MARKETS

Capital markets and data have always been in the same boat; market data, bank transactions etc. have been traditionally used to provide insight. However, when it comes to alternative data this sector does not disappoint.

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ASSET AND WEALTH MANAGEMENT

In 2019 alone, hedge funds are estimated to spend in excess of $1 billion on alternative data and close to double the amount in 2020, according to web intelligence company YipitData- Alterntivedata.org.

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INSURANCE

Above selling data to other industries, the insurance sector has also embraced the revolution by incorporating alternative data into its day-to-day processes. One such use case involves telematics, which combines telecommunications, electrical engineering and computer science technologies to facilitate communication and control of devices: then incorporating that into insurance.

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Full Text: Dataconomy

 

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