Data Frontiers in FinTech

In this concluding chapter we expose the reader to the frontiers of FinTech. Firstly, we discuss the notion of alternative data structures such as voice and video in the finance and banking domain. The focus of this book is on textual data structures as covered in previous chapters. However, as highlighted in this chapter, there is more scope to explore other data formats to extract further up-to-date information. These data forms, derived from sources like customer service calls, video interactions and social media, offer a wealth of insights that traditional data often misses. For instance, in the FinTech sector, companies are leveraging voice analysis to assess customer sentiment, which in turn informs credit scoring and risk assessment models. This innovative use of data helps to create more accurate and personalized financial products.