The future of banking powered by synthetic data
Hazy on Temenos Exchange
We’re excited to announce the launch of Hazy Synthetic Data on the Temenos Exchange - the first synthetic data provider on the leading core banking platform.
Combined with Temenos’s market-leading core banking platform, Hazy synthetic data will drastically speed up customers’ ability to supercharge the next era of banking.
Synthetic data for financial services
As banks navigate their transformation journeys, ensuring access to good quality data is paramount to ensuring efficiency and best use of resources.
Hazy has been working with financial services firms for many years with a variety of use cases from training AI models, testing at scale, innovation and analytics. For example, Hazy has helped Nationwide provision representative data to third parties so that they are no longer restricted by internal governance controls around their raw data assets. Using Hazy synthetic data instead of real data has cut the time to evaluate innovation partners from six months to three days.
Partnering with Temenos will enable synthetic data to really ramp up in scale and impact. Temenos customers will begin using synthetic data for three main uses cases, to create:
- Realistic test data for non-production environments (e.g. dev, test, UAT)
- Representative data for AI and analytics
- Safe data for sharing
After these initial use cases, the power of the Hazy platform means synthetic data can be easily scaled to other teams and departments for a variety of use cases.
Key features of synthetic data on Temenos
Temenos Exchange ecosystem offers pre-integrated and approved fintech solutions that can be easily deployed on top of Temenos’ open platform for composable banking, enabling banks to accelerate the creation of new financial services, while reducing the costs of development.
Temenos customers that deploy Hazy will be able to generate safe, synthetic, drop-in replacement for their real data using generative AI. Hazy’s synthetic data enables customers to quickly access production-quality data without compromising customer privacy.
Fully synthetic
Hazy generates anonymous data from scratch with built-in privacy guarantees to give safe data that falls outside the scope of data privacy regulation.
Production quality data
Advanced generative models replicate the structure, relationships, statistical properties and patterns in the source data.
Ease of use
Synthetic data is quick and easy to generate using Hazy’s no-code interface or API.
Unbeatable security
Hazy is self-hosted software so no data leaves the client’s environment and only the right people have access.