Deep learning for financial applications : A survey

• Published in: Applied soft computing Vol. 93; p. 106384
• Main Authors: Ozbayoglu, Ahmet Murat, Gudelek, Mehmet Ugur, Sezer, Omer Berat
• Format: Journal Article
• Language: English
• Published: Elsevier B.V 01.08.2020
• Subjects: Algorithmic trading; Computational intelligence; Deep learning; Finance; Financial applications; Fraud detection; Machine learning; Portfolio management; Risk assessment; Deep learning; Algorithmic trading; Finance; Financial applications; Risk assessment; Machine learning; Portfolio management; Fraud detection; Computational intelligence
• ISSN: 1568-4946; 1872-9681
• DOI: 10.1016/j.asoc.2020.106384

Computational intelligence in finance has been a very popular topic for both academia and financial industry in the last few decades. Numerous studies have been published resulting in various models. Meanwhile, within the Machine Learning (ML) field, Deep Learning (DL) started getting a lot of attention recently, mostly due to its outperformance over the classical models. Lots of different implementations of DL exist today, and the broad interest is continuing. Finance is one particular area where DL models started getting traction, however, the playfield is wide open, a lot of research opportunities still exist. In this paper, we tried to provide a state-of-the-art snapshot of the developed DL models for financial applications. We not only categorized the works according to their intended subfield in finance but also analyzed them based on their DL models. In addition, we also aimed at identifying possible future implementations and highlighted the pathway for the ongoing research within the field. •All searchable articles of deep learning (DL) for financial applications are reviewed.•DL for finance studies based on their application areas were clustered.•DL models according to their performances in different implementation areas were compared.•To best of our knowledge, this is the first comprehensive DL survey for financial applications.•Current status of DL in finance was provided, also the future opportunities were highlighted.