Synthesized Ltd, a leading synthetic data generation platform, which provides engineering and data science teams a quick way to create and share trusted data through advanced machine learning and automation, announced that Deutsche Bank is investing in its next phase of growth and technology innovation development.
Deutsche Bank is already partnering with Synthesized to better leverage data and accelerate the adoption of client insights driven by AI/ML, while at the same time protecting data privacy and security. Via Synthesized, the bank’s engineering teams have access to the synthetic test data they need – speeding up testing, driving more accurate outcomes, and shortening time to market. Through synthetic, non-traceable versions of original datasets, the platform will enable the bank to rapidly experiment with large data sets for AI/ML use cases and additional new technologies.
“Synthesized’s mission is to provide access to secure, compliant, high-quality synthetic data faster and easier. Our investment in Synthesized will further accelerate our application migration, data analysis, experimentation and testing in the cloud – enabling Deutsche Bank to increase its data productivity and innovation velocity,” said Gil Perez, Chief Innovation Officer and head of Corporate Venture Group at Deutsche Bank. “We are thrilled to expand our partnership with Synthesized and having it join the bank’s Corporate Ventures Capital portfolio companies. This is another milestone in Deutsche Bank ongoing cloud and innovation journey.”
Key benefits delivered by Synthesized include:
- Improve Machine Learning (ML) model performance and resilience – creating more balanced training data for model testing
- Increase ML model Time to Value – shortening data collection cycles
- Open innovation, experimentation and partnering – reducing vendor onboarding and data approvals for POCs
- Drive compliant data monetization strategies – through the use of irreversible datasets
- Facilitate cloud adoption strategies – providing compliant datasets for migration to GCP
- Enable faster development cycles – increasing time to market
- Improve application quality – shifting left to catch defects before production rollouts
Dr. Nicolai Baldin, Founder and CEO at Synthesized emphasized: “We are enabling users to produce synthetic data that has an overall statistical resemblance to original data but consists of entirely new data points. This will help Deutsche Bank to ensure full data privacy and security for its cloud transformation initiatives.”
Joerg Landsch, Head Central Corporate Venture Capital at Deutsche Bank added: “Synthesized has created a powerful synthetic data generation solution which helps in particular regulated companies to work with data in a safe, fast, and simple manner. We are delighted to invest in Synthesized and look forward to partnering with Dr. Nicolai Baldin and his team at Synthesized”.
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