Privacy fears and compliance headaches turn valuable data into a liability for banks and financial institutions. With growing cybersecurity concerns, money laundering, increased legislative pressure, and restricted access to transaction data, financial institutions face false positive rates, increased costs, and delays in lending decisions.
Synthetic data helps banks and financial institutions overcome compliance concerns, decrease false positive rates, and generate new revenue streams by providing access to AI-generated datasets with the same statistical properties as their original data.
Want to learn more about Synthetic Data, its use cases, and benefits? Check out our comprehensive guide.