Stockfuse platform can ‘help win a spot on Wall Street’
Sean McCormack, Stockfuse
“The current recruitment process is not only inefficient, but also exclusive, with many highly qualified candidates being filtered out simply because they don’t attend the right schools.”
New York and London – Stockfuse has announced the official launch of its candidate evaluation and talent development platform, employing gamification technology to bring skill-based recruitment to the financial services industry. The platform integrates social gaming, psychology and machine learning techniques into trading games designed to help with the recruitment process. Firms can then filter through candidate profiles based on the specific requirements and skillsets for a position.
“The financial services industry today faces increasing challenges of finding and attracting the right talent, particularly when competing with other technology companies and startups for the same candidates,” said William Jan, VP & lead analyst at Outsell. “Wall Street’s recruitment process has been focused mostly around academic background and existing networks. The Stockfuse platform opens the door to a new talent pool.”
The Stockfuse platform enables firms to create portfolio management games through which they can gather insights into candidates’ investing styles, thought processes, engagement levels and behavioral biases. A multi-dimensional profile is automatically generated for each candidate based on their investing activities and interactions with other participants throughout the duration of a game.
Traditionally, financial institutions conduct on-campus information sessions at only select universities and manually review thousands of resumes before they can determine candidates for in-person interviews. The whole screening process can be time consuming and resource intensive. The Stockfuse platform, using advanced machine learning techniques, quantifies the skillsets of each candidate, allowing financial institutions to specify the criteria they are looking for from a diverse community of candidates.
“Recruitment is simply a game of supply and demand, yet most financial firms target the same few universities,” said Patrick Adelsbach, Partner and cofounder of Aksia, an independent hedge fund research and advisory firm. “Using a skill-based recruitment strategy, Stockfuse allows us to identify talented students at the 99% of universities that we can’t reach via on-campus recruiting.”
“The current recruitment process is not only inefficient, but also exclusive, with many highly qualified candidates being filtered out simply because they don’t attend the right schools,” said Sean McCormack, CEO and cofounder of Stockfuse. “Stockfuse uses gaming technology to provide candidates with fun, engaging experience while allowing them to showcase their skills. Financial institutions are able to review candidates more efficiently and based on demonstrated acumen. The increased efficiency also allows them to expand their reach into a new, more diverse talent pool.”
The Stockfuse virtual trading platform,t allows users to trade and invest in the real stock market across the web and mobile apps. machine learning-based algorithm then generates profiles for the users, encompassing investment returns, risk management, thoughtfulness, and engagement. These profiles are refined continuously as participants make trading decisions or interact with others. In addition to recruitment, different users can also benefit from the platform in different ways:
- Students: The game levels the playing field for students from all backgrounds as it provides a comprehensive evaluation framework, allowing candidates to showcase different personality traits and capabilities.
- Educators: The platform enables educators to integrate a realistic trading environment into their curriculum and create an interactive learning environment.
- Individuals: Anyone can learn about financial markets by trading stocks in real time and with real prices. They can also engage with other seasoned investors in discussions around investing, market trends, and risk management.
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Source: Stockfuse platform can ‘help win a spot on Wall Street’
Via: Google Alert for ML