University of Hong Kong | FITE4801 Final Year Project
Real-time monitoring of social media sentiment for detecting operational incidents in banking
By Sin Hoi Yan Melanie, Wong Nicole, Yao Yi Tung
Supervised by Dr. S. M. Yiu
Motivations
Current Governance Framework
There are delays in detecting and reporting incidents which may increase potential risks and damages. Operational risk teams and regulators are coming up with RegTech solutions to enhance incident detection and reduce the impact of incidents.
Power of Artificial Intelligence
AI and ML can be used to empower RegTech solutions, enhancing automation to increase accuracy and reduce manual efforts.
Recent incidents
In the eventful 2022 and 2023, credit card fraud was reported by Hong Kong local newspaper. Memorably, the recent collapse of SVB and its aftermath might have almost triggered a global financial crisis. Ex ante, any precautions could there be to avoid these incident?
introduction
Monitoring System
We hope to development dashboard monitoring system which can allow banks and banking regulators to view insights and trends of social media mentions of banks with an alert system.
The alert system will flag anomalies and can be implemented to notify relevant parties of abnormal social media behaviour, such as sudden influx of negative comments, to trigger investigation to mitigate potential incidents in a timely manner.
Progress
Methodologies
Phase 1 – Data preparation
- Data collection
- Data pre-processing
Phase 2 – Developing the model
- Conducting correlation analysis
- Testing with various ML models
Phase 3 – Dashboard & Alert System Demo
- Designing dashboard and selecting metrics
- Setting up demo alert system
the team
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FinTech & PPA double major with an interest in RegTech and SupTech applications.
Nicole Wong
FinTech & Politics and Public Administration
FinTech & Marketing double major with an interest to revolutionize the banking sector through innovative technologies.
Sin Hoi Yan Melanie
FinTech & Marketing
FinTech & Material Engineering with an interest in digital transformation.
Yao Yi Tung
FinTech & Material Engineering
Results
To be updated