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Natural Language Processing Applications in Finance Posted on Nov 03 - 2018

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Natural language processing, or NLP, is one AI-based technology that’s finding its way into a variety of verticals. We covered the business applications of NLP in our previous report, and in this report, we intend to cover the technology’s applications in finance more extensively. NLP might allow a company to garner insights that can be used to assess a creditor’s risk or gauge brand-related sentiment across the web. We researched the space to better understand where NLP comes into play in the finance industry and to answer the following questions:

  • What types of NLP-based applications are currently in use in finance?
  •  What tangible results has NLP driven in finance?
  • Are there any common trends among these innovation efforts? How could these trends affect the future of finance?

This report covers vendors offering software across three applications:

  • Credit Scoring
  •  Sentiment Analysis
  • Document Search

This article intends to provide business leaders in the finance space with an idea of what they can currently expect from NLP in their industry. We hope that this article allows business leaders in finance to garner insights they can confidently relay to their executive teams so they can make informed decisions when thinking about AI adoption. At the very least, this article intends to act as a method of reducing the time business leaders in finance spend researching NLP companies with whom they may (or may not) be interested in working.

Credit Scoring

LenddoEFL

LenddoEFL is a Singapore-based company with 115 employees. The company offers a software called The LenddoScore, which they claim can help banks and financial institutions assess an individual’s creditworthiness using NLP and machine learning.

LenddoEFL is focused on allowing financial firms in developing countries offer loans and credit services to growing middle-class populations in these countries. In most cases, these customers have little to no credit history, and LenddEFL claims its software helps banks understand lending risks based on customer digital footprints. View More

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