US investment bank JP Morgan has made a strategic investment in FinTech firm Limeglass, which deploys artificial intelligence (AI), machine learning and natural language processing (NLP) to analyse institutional research.
Limeglass stated that it recently completed JP Morgan’s In-Residence Program, after being accepted into the scheme for FinTech start-ups in February 2018. The program aims to help emerging technology companies develop products for banking.
“The insights our research teams produce daily are a huge source of value to our clients. We are continuously investing in technology to help deliver industry-leading content and to help us and our clients further mine that value,” said Hussein Malik, head of transformation and implementation for sales and research at JP Morgan.
Limeglass uses technology to analyse text in research in real-time, while considering the document’s context and structure. Its ‘Research Atomisation’ service uses NLP, AI and machine learning for cross-asset and macro taxonomy to smart-tag paragraphs within research documents.
“The volume of financial research, and the lack of innovation in how it is delivered, mean that market participants can spend hours searching through their email to find information on the trades they are considering,” said Rowland Park, CEO and co-founder of Limeglass. “It is all too easy to miss vital information buried deep in large documents, wasting time and valuable research insights.”
Simon Gregory, chief technology officer and co-founder at Limeglass, added that he has worked in research his entire career, and is often surprised by how much research is missed by users.
“We looked at the research consumption and distribution workflows from first principles and realised that the document centric approach was limiting access to the content,” he said. “Using cutting edge technology to analyse the unstructured data in research documents, we’ve created a whole new way for market participants to engage with financial research.”