An Interview With Fintech Company Almax Analytics
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 more.
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 information.
Balázs, how would you describe Almax Analytics?
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 background?
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?
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...
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