How FinTech Startups Bring Keyword Searches To Financial Notes

FinTech startups are introducing new ways for users to sift through information that was once hard to find: Intrinio, for instance, is now letting users search through notes and disclosures included on the SEC filings of U.S. public companies with keywords. Through the feature, users could look for “any indicators for sentiment analysis” to determine if a company is heading in “a good direction or a bad direction or any interesting events” Intrinio Founder and CEO Rachel Carpenter told PYMNTS in an interview.

For example, users could conduct a keyword search for “economics.” That way users could see which companies are talking about (or worried about) the economy. (They can also use other keywords to get an inkling as to where a company is heading). As a result, Carpenter said that it is an interesting alternative data set for investors to get a bit of an upside. The company also has another feed, among others, on its marketplace that gives access to financial statement data.

That data feed gives users access to financial statement data such as the income statement, balance sheet and statement of cash flows. And, while Carpenter said that the company had never before given access to the notes, she pointed out that the text that is attached to statements can have interesting nuggets of information. The feature had been on its list for a while, and the company had been building it for a few months. To make the function possible, it had to build text processing and language processing tools.

Carpenter noted that most users are currently tapping into the new feature for trading purposes. In the future, however, developers could build apps and websites to display the information. She also noted that the company is looking to release new feeds in the future, suggesting that FinTech startups are constantly evolving their products and services going forward.

At the same time, Carpenter noted that the company just accepted an invitation to present at the Florida Venture Forum, which is coming up in in the company’s hometown of St. Petersburg.