Facteus (Formerly ARM Insight) to Showcase Synthetic Data Innovation at FinovateFall Conference
PORTLAND, Ore. – August 27, 2019 – Facteus (Formerly ARM Insight), the leading provider of actionable insights from financial data, announced today that Finovate has selected Facteus and its Mimic™ synthetic data solution to be a part of the demo lineup at the Finovate Fall event in New York, NY Sept. 23-26. Facteus CEO, Randy Koch, will also discuss the power of synthetic data in maximizing AI strategies as part of the AI in Fintech Summit day at the event.
The Finovate event, which features cutting-edge banking, financial and payments technology in short-form demo format, is expected to attract more than 1,600 participants to the New York Marriott Marquis. Facteus will demonstrate the value and power of its innovative synthetic data approach for machine learning, AI and data monetization on Tuesday, September 24 at 11:20 a.m. Randy Koch’s presentation at the AI in Fintech Summit, “Harnessing the Power of Synthetic Data to Maximize your AI Strategy” will be held on Thursday, September 26 at 11:00 am.
“We are excited to be on the Finovate stage to show how financial services companies can unlock the value of their data without compromising security or privacy,” said Randy Koch, CEO of Facteus. “Moving beyond the process of simply trying to anonymize or ‘clean’ the data, [Facteus] Mimic™ creates synthetic data that maintains the statistical value of the original transactional data, while removing Personally Identifiable Information (PII) that could be traced back to the original raw data. This completely secure synthetic data can then be used for analytics, machine learning, marketing and segmentation activities, and new revenue streams through data monetization.”
“Data and business intelligence are always top of mind for financial services executives when it comes to driving new innovation like machine learning, AI, and new product development,” said Greg Palmer, VP of Finovate. “[Facteus’] synthetic data approach can help financial services companies and fintechs alike leverage data for their innovation initiatives while ensuring they are protecting the privacy and security of the individual. We’re glad [Facteus] will be able to show what they can do up on stage!”
Finovate is a global conference series focused on financial services technology. Held in five locations — London, San Francisco, New York, Singapore and Dubai — it offers live product demos, fast-paced content, and high-impact networking. The event is organized by KNECT365. For more information about the events or to view videos of previous demos and presentations, please visit finovate.com.
Facteus is a leading provider of financial data business intelligence (BI) solutions for processors, investment companies, financial institutions, and retail corporations. Through its innovative synthetic data process, Facteus can transform raw transaction data from legacy technologies into actionable information, which enables companies to make intelligent business decisions, automate manual operational tasks and optimize their data strategies. Founded in 2010, Facteus’ team of data scientists and financial services industry veterans provide source data from billions of transactions to over 1,000 financial services companies to deliver timely, rich insights that can be used for machine learning, artificial intelligence, data monetization and other strategic use cases. To learn more, visit facteus.com.