Most Read Contributor in Luxembourg, February 2017
From my vantage point in the
KPMG Hub for Entrepreneurship (the Khube) I've seen plenty
of FinTech companies working on making sense of the enormity of
data being produced every day (which I'm told is around
2,500,000,000,000,000,000 bytes' worth). I've seen
crossovers of different technologies like artificial intelligence,
big data, machine learning, predictive analytics, and
One of the start-ups that we've been working
with for over a year now is called Almax
Analytics. In our continuing series of
interviews with FinTech disruptors, I've sat down with CEO
Balázs Klemm, who spoke to me about his company and how
it's threading quintillions of bytes into valuable stock
Balázs, how would you describe Almax
Almax Analytics is building AI that is aiming to understand the
stock impact of news like a human analyst or trader. It provides
quantified news for traders, portfolio managers and analysts to
discern relevant events and understand their stock impact.
Thematically we are at the cross-section of AI and FinTech.
Why did you decide to start your own company? What is your
My background is in asset management and it was here that I saw
there was a real need for an intelligent solution to the problem of
information overload for asset managers. Talking with other
Portfolio Managers that had the same problem and seeing that there
was the technological possibility to solve this problem was how the
company was born.
What is the problem that you try to solve with
Almax Analytics solves the problem of information overload with
deep AI tech that is able to process an unprecedented volume of
news. This explosion of Big Data from where it originates and is
disseminated has created a window of opportunity to trade on new
detailed information in filings and in news. Through cutting-edge
NLP, machine and deep learning and the lowest possible latency,
Almax offers the Financial Community a novel tool and resource to
use a previously untapped source of information.
There are a lot of data analytics companies today. How do
you differentiate yourself?
Almax's edge lies in understanding/creating data
relationships instead of just processing unstructured data.
One of the advantages we have is that we are solving a problem
that as a founder I encountered directly while running an
investment fund – the inability for humans to read and
process the sheer quantity of news available in order not to miss
important events and relationships – and so we know exactly
how to approach the problem and how the solution has to look.
Talking with market participants we know there is a large schism
between those that have the technology and those that have the
We are closing this gap by having brought together a group of
world-class machine learning and AI as well as industry
At what stage is your company now? Are you growing,
We built up our core technology platform last year and are now
in active talks to deploy it at various companies. We have recently
added two new full time employees and we are looking to hire more
staff in Q1.
What are your further developments and
In 2017 we plan to scale up, enhance our IT infrastructure, add
further key hires and go fully to market. On the financing side we
aim to complete our Series A by Q2.
And finally... what's one app that you recently
As I missed my flight at London Heathrow by 5 minutes because I
had not checked in on the road – the British Airways app.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
ICT Spring is a global technology conference that welcomes various international professionals from the technology space. It is a two-day yearly event which is held in Luxembourg City, “at the heart of Europe, and offers the participants a unique opportunity to deepen their digital knowledge, capture the value of the fast-growing FinTech industry, and explore the impact of space technologies on terrestrial businesses, through exhibitions and demonstrations of the latest tech trends and innovations. ICT Spring is also the perfect place to network with peers and future business partners”.
The British High Commission in Mauritius organised Wednesday 25 January 2017, jointly with the Financial Services Promotion Agency and the Board of Investment, the first ever UK-Mauritius fintech conference.
The Hong Kong government continues to focus on fintech, and making the city an attractive place for the industry.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).