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Computational approaches and data analytics in financial services: A literature review

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  • Dimitris Andriosopoulos
  • Michael Doumpos
  • Panos M. Pardalos
  • Constantin Zopounidis

    (TUC - Technical University of Crete [Chania], Audencia Business School)

Abstract

The level of modeling sophistication in financial services has increased considerably over the years. Nowadays, the complexity of financial problems and the vast amount of data require an engineering approach based on analytical modeling tools for planning, decision making, reporting, and supervisory control. This article provides an overview of the main financial applications of computational and data analytics approaches, focusing on the coverage of the recent developments and trends. The overview covers different methodological tools and their uses in areas, such as portfolio management, credit analysis, banking, and insurance.
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  • Dimitris Andriosopoulos & Michael Doumpos & Panos M. Pardalos & Constantin Zopounidis, 2019. "Computational approaches and data analytics in financial services: A literature review," Post-Print hal-02880149, HAL.
    • Handle: RePEc:hal:journl:hal-02880149
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    Cited by:

    1. C. A. Valle & J. E. Beasley, 2019. "A nonlinear optimisation model for constructing minimal drawdown portfolios," Papers 1908.08684, arXiv.org.
    2. Stancu Mirela Simina & Duţescu Adriana, 2021. "The impact of the Artificial Intelligence on the accounting profession, a literature’s assessment," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 15(1), pages 749-758, December.
    3. Edouard Ribes, 2022. "Financial planning & optimal retirement timing for physically intensive occupations," Working Papers hal-03219182, HAL.
    4. Doumpos, Michalis & Zopounidis, Constantin & Gounopoulos, Dimitrios & Platanakis, Emmanouil & Zhang, Wenke, 2023. "Operational research and artificial intelligence methods in banking," European Journal of Operational Research, Elsevier, vol. 306(1), pages 1-16.
    5. Edouard A. Ribes, 2022. "Financial planning and optimal retirement timing for physically intensive occupations," SN Business & Economics, Springer, vol. 2(8), pages 1-28, August.
    6. Julio Cezar Soares Silva & Adiel Teixeira de Almeida Filho, 2023. "A systematic literature review on solution approaches for the index tracking problem in the last decade," Papers 2306.01660, arXiv.org, revised Jun 2023.
    7. Huidong Sun & Mustafa Raza Rabbani & Muhammad Safdar Sial & Siming Yu & José António Filipe & Jacob Cherian, 2020. "Identifying Big Data’s Opportunities, Challenges, and Implications in Finance," Mathematics, MDPI, vol. 8(10), pages 1-19, October.
    8. Nguyet Nguyen & Dung Nguyen, 2020. "Global Stock Selection with Hidden Markov Model," Risks, MDPI, vol. 9(1), pages 1-18, December.

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