Stockbuzz, developed by BBVA, has been presented to investors and analysts in FinovateEurope, the meeting place for financial technology entrepreneurs
This application, which detects comments in Twitter on IBEX35 stocks and tries to predict market trends, has already analyzed 1.5 million messages
BBVA aims to open the API of its application so that other developers can build their projects on it
BBVA has taken part in FinovateEurope, the event which has drawn together the most important innovative projects and startups on the financial market in London on February 12 and 13. Its Stockbuzz application, which measures market sentiment regarding IBEX35 stocks in Twitter, has been chosen from all the projects presented in Europe to take part in the event due to its excellent innovation and financial technological enterprise.
Stockbuzz detects opinions given by Twitter users regarding the IBEX35 and its stocks, in order to be able to predict outlook on how the market will perform. This Internet application thus turns the microblogging network into a tool to be able to read trends regarding the share prices of the companies trading on the main index of the Spanish stock market.
FinovateEurope has presented BBVA's development as one of the most outstanding entrepreneurs' projects in the financial sector. "Being chosen to present StockBuzz in Finovate is a very important acknowledgement of our efforts to promote innovation in an open and collaborative model", says José Antonio Gallego, Head of Open Innovation of the BBVA Innovation Center, which has spearheaded this development.
Stockbuzz, whose Beta phase was launched in September 2012, has already analyzed over 1.5 million messages. The application is ready to be improved and to become more efficient day by day, through the learning it steadily builds up by analyzing Twitter messages daily.
Stockbuzz is totally free. Find out more here
Due to the international interest in this project, BBVA's next step is to share this development with entrepreneurs interested in the application, which will be given its API (Application Programming Interface) in order for them to be able to build their own developments upon it.
Collaboration with entrepreneurs and startups with a technological base is one of the cornerstones of BBVA's innovation strategy and one of the drivers for its future growth.
BBVA has built a knowledge base with the collaboration of over 10,000 experts worldwide, and is a partner of institutions such as MIT, SRI or Fraunhofer; and companies such as Google, Ideo or Continuum.
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FinovateEurope is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology. Held annually in London, the event offers an insight-packed glimpse of the future of money via a fast-paced, intimate and unique format. FinovateEurope is organized by The Finovate Group.
For more information on the event or to view videos of previous demos, please click here
BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is biased to high-growth markets and it relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading Euro zone banks in terms of ROE and efficiency. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.