Netlytic Analysis of #FinTech
FinTech is a combination of the words ‘Finance’ and ‘Technology’. Artificial Intelligence(AI) is now actively being used in this fintech field. Recently, AI has helped the technological advancements in the financial industry, such as using facial recognition to log in to financial apps and use voice commands to check their balances. (Forbes,2018) Moreover, according to the Finextra, AI is going to make a game-changing impact in the fintech industry. However, there are various opinions on the future of AI in Fintech. An article from the Forbes claims that people need to be aware of the risks of using AI technology in the financial sector. It says that increasing reliance on AI comes with a reduction in jobs.(Forbes,2017) On the other hand, the author of an article of finextra strongly argues that “With massive funding and intense competition, AI is the only way Fintech companies can stay ahead in the race in 2018”.
In order to understand more about who are interested in this field and how people respond to using AI in the financial sector, I analyzed #fintech on Twitter by using Netlytics and Gephi. As we can see in the hashtagify.me, Twitter and Instagram were the platforms that have a high popularity of #fintech (71.6 out of 100) and #AI(74 out of 100). Among those two platforms, Twitter was judged to be a more appropriate platform for analyzing because there were most active posts related to #fintech. I also gathered data from Instagram through Netlytics, but there were no meaningful topics that are closely related to AI and Fintech.
Text Analysis
I did the text analysis of #fintech by using the tool called Netlytics. First of all, I looked up the words cloud.
Figure 1. Word cloud: The Top 100 most popular hashtags_netlytics
The word cloud shows that fintech is one of the popular topics on Twitter. #fintech was mentioned 996 times on tweets. The frequency of #ai is 307 and this indicates that fintech is a topic that is related enough to artificial intelligence, our main topic. #blockchain (516) #bitcoin (173) #crypto (208) and #cryptocurrency (152) were also a lot used in twitter. This represents that people or organizations who use twitter nowadays are interested in the field of cryptocurrencies such as bitcoin among many other sectors of fintech. Following graph presents the top 10 hashtags related to the #fintech.
Figure 2. Top 10 Hastags with high frequency by using Excel
I found it interesting to have a #healthtec in word cloud as a related hashtags. It has less frequency (40) compare to top 10 hashtags but still it was interesting because it seems to have no close relationship with #fintech at all. Therefore I looked up specific tweet related to #healthtech.
By closer looking at one specific tweet, I could find out that people often tweets related articles from medium with the keyword. The reason became clear why #healthtech, which seem to have no big relationship with #fintech, can be found in the word cloud.
Figure 3. Words over time
The thickest purple bar of #fintech in figure 3 shows that #fintech has been the most used word over time. Although #bitcoin has been also used a lot, overall, it is clear that fintech has been used constantly the most.
Figure 4. Top 10 Posters Mentioned in Messages (Netlytics)
According to the Netlytic Report, Top 10 Posters mentioned in messages are ipfcoline1 (#mentions: 70), andi_staub (#mentions:36), thomaspower (#mentions:27), syscoin (#mentions: 16), fintechna (#mentions: 16), financialbrand (#mentions: 13), motorcycletwitt (#mentions: 10), therudingroup (#mentions: 9), platinumcpromo (#mentions: 7), enricomolinari (#mentions: 6). Ipfcoline1, the user who was most mentioned in messages is an Info-Plus Formation Center, a computer consultant in France. Among 10 posters, 5 accounts are experts (andi_staub, thomaspower, motorcycletwitt, therudingroup, enricomolinari), 3 accounts are organizations (ipfcoline1, syscoin, platinumepromo) and 2 accounts are media. This represents that the experts and organizations that are related to the computer and financial fields are interested in #fintech.
Figure 5. Categories (Netlytics)
This image represents that the most of the tweets that have #fintech belong to the category called ‘feelings (good)’. There are only ‘good’ feelings and words such as ‘great’(45), ‘good’(12), ‘proud’(12) are included.
Network Analysis
Netlytics
Figure 6. Who Mentions whom (Netlytics)
Figure 7.Who replies to whom (Netlytics)
The networks image in Netlytics shows ‘Who mentions whom’ and ‘Who replies to whom’ in twitter. In the graph of ‘Who mentions whom’, there are a few big nodes in the center of the image which have connections with lots of other smaller nodes. Network graph in Netlytics shows that the “who mentions whom” graph is dense, while who replies to whom is not. In the network analysis in Gephi, it shows clearer structure of connections between accounts.