Big Banks’ approach to alternative data

Waters Technology

The bulge bracket is keen on adopting alternative data and many major banks are building in-house capabilities. However, as this in-depth report finds, it is the small, nimble players who are right now seeing the most traction. Read More

Jamie Dimon bets big on fintech

CNBC

JP Morgan chief Jamie Dimon has announced the bank will build a new fintech campus in Palo Alto. While details are thin, it will give Wall Street’s biggest bank a footprint in Silicon Valley. Read More

Robot ETF leaves human pros in dust

Bloomberg

An AI-powered ETF has outperformed 87% of active managers, but whether it has discovered a winning method or is just lucky remains a question. That said, the possibility of true nirvana looms. Read More

Demand for data scientists causing headaches for recruiters

eFinancialCareers

It’s a good time for data scientists, but the same cannot be said of financial-sector recruiters. Wall Street isn’t only competing for talent against tech giants like Facebook and Google, but also burgeoning startups whose business models are completely informed by data. The result is expensive. Read More

UK finance watchdog to grill pollsters over hedge fund clients

Euronews

The Treasury Select Committee is concerned about polling firms selling data to hedge funds. During the Brexit campaign, for instance, pollsters did surveys for broadcasters while simultaneously selling data to funds, helping them bet against Sterling ahead of the vote to exit the EU. Read More

Social sentiment from alternative data can make a losing strategy profitable

CloudQuant

A simple check of social sentiment before going long provided an insurance policy for CloudQuant’s underlying strategy and turned a loss into a $170,000 gain. Read More

How AI Is shaking up banking and Wall Street

Fortune

A handy summary of the major AI use cases being applied in banking and finance today. From alternative data, to mortgage lending, to roboadvisers and quantamental analysis, progress is being made. Read More

Chile central bank using alt data in rate-setting decisions

Bloomberg

Chile’s central bank is using non-traditional sources of labor-market data to support its case for higher interest rates. Policymakers cited “complementary sources of information on the labor market — including administrative records” when they raised a key rate last week. Read More