The Key to Unlocking Sensitive Data’s Value
Using the Mimic synthetic data engine, companies can safely synthesize their data assets – protecting consumer privacy information from being exposed, while still maintaining the statistical relevancy of the data. The synthetic data can then be used for internal initiatives like analytics, machine learning and AI, marketing and segmentation activities, and new revenue streams through external data monetization.
Gateway to A Compliant Cloud Journey
Mimic enables you to safely move statistically-relevant synthetic data to the cloud ecosystem of your choice to get the most out of your data. Analytics, insights, product development, testing and third-party data sharing can all be done in the cloud with the enhanced synthetic data, which has been certified to be compliant with regulatory and privacy laws (i.e. GDPR, CCPA, GLBA).
Making Data More Useful and Accessible
Mimic gives organizations access to high-quality data that has been stripped of personally identifiable information. This not only enables the data to be safely stored in the cloud but also allows for better data-sharing and data governance capabilities. Now, more groups can work with this data because it falls outside the constraints of data usage guidelines and regulations. This includes internal data scientists or product teams developing better products or sharing the data with trusted third parties to speed up innovation or open new revenue streams.
How Does Facteus Mimic Work?
Key Benefits of Mimic
Data Privacy & Regulation Compliance
Safeguard personal data by reducing the degree to which authentic data needs to be shared internally or disclosed externally. Raw data never leaves your firewall, and the use of synthetic data can help organizations manage privacy and data security-related obligations (i.e. GLBA, CCPA, and GDPR).Learn How Data Can be a Profit Center - “Data as a Profit Center Whiteboard Video” >
Cloud Migration for Analytics & Product Innovation
Using synthetic data from Mimic, organizations can safely migrate data to the cloud to leverage on-demand computing power and analytic tools. Now data science and product groups can share data, collaborate on new products and segmentation strategies, and leverage the latest machine learning and artificial intelligence tools to enable data-driven innovation.Learn More About Cloud Migration >
Safe & Secure Data Monetization
Mimic provides a breakthrough data type – synthetic data – that addresses privacy, compliance, reputational, and headline risks. With Mimic, you can safely enhance and monetize your data by delivering the “truth” of transaction data insights without putting individual privacy at risk.Road Map to Safe Monetization Video >
Synthetic Data and the Cloud White Paper
White Paper: Synthetic Data and the Cloud – Data Monetization and Compliance can Co-Exist. Financial services organizations over the years have made considerable investments to leverage data science in a way that improves business processes and optimizes go-to-market strategies. However, there is significant risk in using raw data for these and other purposes. An opportunity has emerged for companies to safely expand how they leverage their data and maximize the potential to create new revenue sources by adopting synthetic data for both data transformation and data monetization initiatives.
Aite Group Impact Brief: Facteus: Changing the Game with Synthetic Data
This Impact Brief from Aite Group highlights Facteus’ Mimic and Data Platform products and the value potential for financial insitutions, payment companies, and fintechs in leveraging synthetic data for internal analytics, competitive benchmarking, and data monetization. It is based on conversations with Facteus and a selected U.S. client, supported by third-party research.