Synthetic Data for Finance
Finally there is a way to reconcile Big Data innovation with data protection!
Classic Anonymization Fails for Big Data
Truly anonymous data is exempt from data protection regulations and thus free to use. But in the era of Big Data, classic anonymization does not protect against de-anonymization anymore. It has been demonstrated, that 80% of credit card owners could by re-identified by only 3 transactions, even when just the merchant and the date of the transaction were revealed. This re-identification risk is fully understood within the privacy community but is commonly underestimated by decision makers, who thereby put their companies at financial, regulatory and reputational risk.
As even the most sophisticated anonymization methods on the market fall short in the presence of Big Data, a fundamentally new approach is needed!
of mobile phone owners are re-identified simply by 2 antenna signals, even when coarsened to the hour of the day
of credit card owners are re-identified by 3 transactions, even when only merchant and the date of transaction is revealed
of all people are re-identified, merely by their date-of-birth, their gender and their ZIP code of residence
Synthetic Data for Big Data Anonymization
AI-generated Synthetic Data is a game-changer for Big Data anonymization, which allows retaining nearly all of the valuable information in a dataset, while at the same time protecting the privacy of every individual. This is made possible by leveraging state-of-the-art generative deep neural networks that can automatically capture the structure and variation of an existing customer dataset. After they are trained, they can be used to generate an unlimited number of highly realistic & representative synthetic customers that match the patterns and behaviors of your actual customers at an unprecedented level.
Synthetic Data is as-good-as-real but yet completely anonymous, allowing you to transform your privacy-sensitive big data assets into data that is free to use, free to share and free to monetize.
How The Synthetic Data Engine Works
Our Synthetic Data Engine is flexible, easy to use, scales to millions of protected customers and is certified with the European ePrivacy Seal. Since we know that your customers’ data is one of your most sensitive assets and that keeping it safe & secure is of utmost importance to you, our software is deployed within your secure environment – either on-premise or in your private cloud. Thereby, we make sure that your privacy-sensitive data never has to leave your organizational boundaries.
Top 4 Use Cases for Finance
Mostly AI’s Synthetic Data achieves unparalleled accuracy, retains an unprecedented level of detail and is yet fully anonymous. Thereby, it opens up a whole range of opportunities for your otherwise locked up customer data.