(Innovation) Inspiring Financial Innovation
One of the biggest challenges for innovators is how to access quality data to drive innovation.
Imagine a world with a plentiful supply of data that can be safely and securely shared without any privacy issues, free from bias, with the addition of edge cases that are often too rare to test, and even factor in consumer behaviours.
Advances in techniques for creating synthetic data address this. Whether it’s using data to build a rapid prototype, test an AI model, run scenarios on the strategic impact of a new initiative, or just to test whether something works when data is added… synthetic data can facilitate this.
Meeting the Challenge
To inspire innovation, we create synthetic datasets that unlock the power of data.
We create synthetic populations with synthetic agents, each with banks, families, jobs, pensions etc., with simulated transactions, events and activities.
All of these produce synthetic data comparable to real datasets (for example, customer records and current account transactions created by synthetic banks).
This allows innovators to work and collaborate with data that is not normally accessible, helping to develop and test ideas, remove bias from data, and even enrich the quality of real data.
All while respecting consumers’ privacy.