Facteus: Changing the Game With Synthetic Data

Report Summary

Facteus: Changing the Game With Synthetic Data

Synthetic data provides financial institutions the ability to conduct robust data analysis without the privacy risks.

Ginger Schmeltzer
Strategic Advisor

Boston, June 1, 2021 Customer data is by its very nature risky to store and manage because of the amount of personally identifiable information in virtually every data record. Customers may trust banks to keep their money safe, but repeated data breaches at banks, credit bureaus, and major retailers have resulted in much lower levels of trust in the ability of these institutions to safeguard customers’ personal data and privacy.

This Impact Brief provides a case study of how Facteus, a synthetic data solution provider, is using its synthetic data engine, Mimic, to enable players in financial services and other industries to protect and monetize their data. It is based on conversations with Facteus and a selected U.S. client, supported by third-party research.

Clients of Aite Group’s Retail Banking & Payments service can download this nine-page Impact Brief. To learn more about the topic covered in this Impact Brief, please contact us at [email protected].

This report mentions National Retail Solutions.

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