Partnering with Tableau Software for data visualisation, and leveraging Cloudera’s Hadoop distribution for storage, Digitial Reasoning is applying its Synthesys unstructured data analytics platform at financial markets applications.
Synthesys takes structured and unstructured text as input and then uses named entity recognition, understanding of time and geographic references, combined with patented relationship analysis, to develop an understanding of the resolved entities in time and space along with their connections and related terms/concepts.
As such, it might be applied to analysing news and social media feeds, scanning incoming emails, or disecting company regulatory filings. By leveraging Tableau, Synthesys users get an easy-to-use interface to customise the solution and present results.
Launched in late 2007, Synthesys is currently used by a number of U.S. Government agencies, and began to be targeted at commercial applications in 2011. Earlier this year, the company participated in a program run by the Fintech Innovation Lab, an initiative headed by the New York City Investment Fund and Accenture, designed to explore financial services uses of the technology.
Indeed, it was via its engagement with the Fintech Innovation Lab that Digital Reasoning was introduced to Cris Conde, former CEO of SunGard, who subsequently became a board member of the company. No doubt, Conde’s deep understanding of financial services needs and network of contacts will help accelerate the company’s push into the space.