NLP in FinTech Applications: Past, Present and Future
- URL: http://arxiv.org/abs/2005.01320v1
- Date: Mon, 4 May 2020 08:37:27 GMT
- Title: NLP in FinTech Applications: Past, Present and Future
- Authors: Chung-Chi Chen, Hen-Hsen Huang, Hsin-Hsi Chen
- Abstract summary: We focus on the researches applying natural language processing (NLP) technologies in the finance domain.
We go through the application scenarios from three aspects including Know Your Customer (KYC), Know Your Product (KYP), and Satisfy Your Customer (SYC)
- Score: 50.27357144360525
- License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
- Abstract: Financial Technology (FinTech) is one of the worldwide rapidly-rising topics
in the past five years according to the statistics of FinTech from Google
Trends. In this position paper, we focus on the researches applying natural
language processing (NLP) technologies in the finance domain. Our goal is to
indicate the position we are now and provide the blueprint for future
researches. We go through the application scenarios from three aspects
including Know Your Customer (KYC), Know Your Product (KYP), and Satisfy Your
Customer (SYC). Both formal documents and informal textual data are analyzed to
understand corporate customers and personal customers. Furthermore, we talk
over how to dynamically update the features of products from the prospect and
the risk points of view. Finally, we discuss satisfying the customers in both
B2C and C2C business models. After summarizing the past and the recent
challenges, we highlight several promising future research directions in the
trend of FinTech and the open finance tendency.
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