Specialising in the financial services sector, the company works with some of the world's leading financial institutions and has published detailed research with Bank of America*, Barclays* and Prudential*. In all three cases Amenity Analytics have produced detailed reports with the companies which have directly generated new and valuable insights into financial markets. The importance and value of this specialist expertise is particularly significant in the financial sector where businesses are dealing with huge volumes of often sensitive data and information plus regulations which can differ sharply in markets around the world.
"There's so much important information that is text based," said Storch. "When you leave it out of your analytical framework, you have an incomplete picture about what's going on in your business, what's going on with your customers and what's going on in the world at large. And so, there is an enormous need right now to add text analytics or NLP to your analytics stack".
While many companies already use open source NLP, these systems are generalised and not specifically trained on the issues that are pertinent to each individual company. In contrast, as Amenity's offering is tailored to financial services organisations and, where necessary, to individual companies, it can deliver significantly more value to its customers.
Amenity's customers are able to choose what text-based sources they want to analyse while the next step is to understand exactly what information they want to get out of them. Where these sources are held affects how Amenity processes them. For example, if text being analysed comes from publicly available news stories, Amenity can process this straight out of the public cloud, where it already processes over a million documents a day. The NLP can also be built into a company's existing platform using APIs so that it can be used on premise or in the cloud. Alternatively, Amenity can build a customised dashboard from scratch.
Mike Blalock, General Manager, Intel Financial Services Industry, is keen to highlight the benefits of his company’s alliance with Amenity: “Here at Intel we’re trying to provide innovation around data and security in order to help our partners deliver next-generation services and Amenity Analytics are a great example of this in action. NLP is a leader in financial services for risk management as well as Environmental, Social and Governance (ESG) which is increasingly a key focus for the financial sector as organisations shift towards a more responsible way of investing, considering factors that were not traditionally part of financial analysis. In general, the service offered by Amenity Analytics offers whole new levels of speed and insight and all of it is run on Intel® Xeon® processors which means businesses can run this on their current infrastructure which is vitally important if you want to execute at scale with quick time to value.”
All of Amenity's NLP offerings are built on one core model which gets smarter over time as it's constantly trained on new data. And NLP is perfect for companies focusing on ESG, enabling them to transform important issues into datasets. This data can then be used to boost efficiency and insights, enabling them to get more value out of their content and business processes.