State Street has introduced a new mobile application called State Street Verus to enable investors receive instant news updates concerning their holdings.

The application uses big data, machine learning, natural language processing and human intelligence to offer professionals better insights on the market and investments.

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State Street Verus head Stephen Marshall said: “About 150,000 articles are generated on business and finance topics each week, and investment and risk professionals struggle to reliably filter out noise and feel confident that they are not missing anything that could impact their portfolio.

“Our new solution highlights not only the direct connections but also the less obvious indirect connections between these news items and clients’ portfolios; shortening the amount of time between when a relevant news story breaks and when a client can comfortably answer the question, ‘What is my exposure?’”

Verus procures news from various English publications and runs them through machine learning algorithms with portfolio data from truView, its end-to-end risk analytics platform, to organise users’ newsfeeds.

An editorial team consistently assesses the newsfeeds and provides necessary feedback to make them more relevant.

After direct connections are identified, Verus assesses third-party relationship data to detect relevant indirect relationships within the portfolio.

Subsequently, all connections are ranked with V score according to their article content, risk and network connections in order to provide answers to various investment-related queries.