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.
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The SuperReturn International series consists of 15 annual international private equity & venture capital events held in Europe, Asia, Africa, Middle East and the US. This happens to be the European event for the year. Spread across five days, starting from 27 February, the largest private equity event worldwide will take place in Berlin this year.
Some of the main subjects being discussed at this year’s conference are; The Geopolitical and Economical happenings of the last 12 months, Innovation Disruption & Tech Expertise and many more. As previously eluded to, there will be over 400 presenters, all bringing their own perspective and stance on specific topics to the table. Companies such as Google, Visa, Bloomberg and many more will all be represented throughout the five days.
KPMG Associate Partner, Nic Müller, will be speaking on 28 February at 3pm: “Why invest in the mid-market today”.
Given the societal challenges and environmental issues we currently face, the circular economy concept has rapidly been gaining in importance. This is why the Luxembourg government is pressing ahead in setting up the framework for the third industrial revolution, in which a circular economy is a key pillar.
The International Accounting Standards Board’s (IASB) insurance contracts standard, IFRS 17, is expected to significantly affect data requirements and the systems and processes used for data collection, actuarial projections, and on calculating and accruing interest.
In discussion with insurers around the world, we found that most expect to face challenges accessing and handling data of the right quality and granularity under the new standard. And many see significant effort associated with capturing, storing and analyzing this information given historical data quality and the use of legacy systems.
In the third of our webcast series - Impacts of IFRS 17 on data, systems and processes - we will share practical examples of how the forthcoming standard may impact an insurer’s current systems architecture. In addition, we will explore the data that will be required and how the standard will influence new estimates, computations and processing. We will also share lessons that we have learned from helping insurers through Solvency ll and the importance of developing a data management policy early on.
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.
We went into more detail about the container integration, improved headless edition, nested virtualization and PowerShell improvements, as the most prominent feature updates of the new Microsoft server operating system.
On 21 December 2016, China's National Information Security Standardization Technical Committee (NISSTC) released a set of draft information security standards (the "Standards") for public comment.
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