Fintech News: July 22nd, 2016

This week in fintech: What Pokémon Go means for banks, trading social sentiment based on real-time sales, a chatbot to trade on Facebook messenger, and more bank execs scoff at fintech’s influence.

TD Ameritrade Takes Social Media Research to the Next Level (Finance Magnates)

TD Ameritrade is providing a new way to research consumer products companies. Clients on the Thinkorswim platform will now be able to access LikeFolio data for 25 high-volume equities, and trade off of social sentiment data. This integration is unique because the data is not opinion data from other traders, but actual sentiment from consumers buying the products.

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Trade what the people are buying. Source: LikeFolio

Kasisto’s chatbot will soon trade stock on Facebook Messenger (Venture Beat)

Screen Shot 2016-07-19 at 1.50.24 PMIf Siri replaced your personal assistant, MyKAI will replace your stockbroker. Built by Kasisto, MyKAI gives users market intelligence, reports on their portfolio’s performance, and places trades on their behalf.

By expanding beyond market information into actual trade execution, MyKAI marks AI’s growing influence in Wealth Management beyond the first generation of chatbots. With MyKAI, users can link their account from any major US broker and trade on Facebook Messenger. See Kasisto’s official announcement for more.

J.P. Morgan’s Jamie Dimon: Fintech’s Got Nothing on Us (The Wall Street Journal)

Another day, another banking exec who denies fintech’s influence. This time, Jamie Dimon touted clearXchange, which lets customers transfer money immediately across institutions, as the next great success for banks in fintech. Last month, he trashed startups that collect your bank data for their controversial privacy policies.

Lessons Pokémon Go Can Teach the Banking Industry (The Financial Brand)

025Pikachu_Pokemon_Mystery_Dungeon_Red_and_Blue_Rescue_Teams.pngThe power of AR, the power of gamification, the power of geolocation data, and the power of engagement. None of these forces are new or exclusive to Pokémon GO, but when an app shoots to the top of download charts worldwide, any digital business should take note of what it did correctly. Here’s what it means for mobile banking.

 

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