Fintech PR

Synthesized receives UBS Next investment that will further the development of high quality data for software testing

Published

9 months ago

February 20, 2024

LONDON, Feb. 20, 2024 /PRNewswire/ — Synthesized Ltd, a leading data generation and provisioning platform, which provides engineering teams a quick way to create and share production-like test and training data through advanced machine learning and automation, announced today that UBS Next, the group’s venture and innovation unit, is investing in its next phase of growth.

Synthesized has a unique, AI-driven, code-centric approach to populating database environments with production-like test data. This method is not just timely but essential, as it aligns with the growing need for efficient and secure data management in a rapidly evolving digital landscape.

Synthesized’s innovative approach allows for the creation of high-quality, privacy-preserving data, ensuring better software releases, quicker development times, and reduced data privacy risks. Clients of Synthesized, including leading global banks, financial institutions, insurance companies, healthcare firms, and government entities, benefit from these capabilities in solving their data access and provisioning challenges.

Synthesized enables engineering teams to have:

Faster development cycles – completely removes test databases and provisions time delays from the software development lifecycle, leading to faster time to market and increasing developer productivity.
Cloud adoption strategies – optimizes cloud spend, reduces data storage costs for non-production environments, and provides compliant datasets for migration to the cloud.
Improved application quality – catches software bugs earlier when defects are less costly to address, while simultaneously improving application end user experiences.
Compliant experimentation and innovation – reduces vendor onboarding time and data approval time for POCs, guaranteeing 0% production data leakage risk.

Dr. Nicolai Baldin, Founder and CEO at Synthesized said: “AI-based and more traditional software applications are only as good as the data used in their development and testing. This UBS Next investment will enable Synthesized to grow and evolve our mission of providing high-quality, privacy-preserving training and test data for application development, AI/ML, and analytics. We are excited to solidify our partnership with UBS on our mission.”

Dr. Christopher Purves, Co-Head of Group Emerging Technology and Global Head of IB Digital Platforms at UBS, added: “The market opportunity for Synthesized is vast and growing. As companies increasingly rely on data for application development and AI/machine learning initiatives, the need for efficient, secure, and compliant production-like test data becomes paramount. Synthesized stands out by enabling software engineers to provision high-quality data on demand. It is intuitive as writing code and is a pioneering approach in the industry.”

About Synthesized

Synthesized is on a mission to make the creation and access of high-quality data fast and easy. Synthesized pioneered the first API-driven data generation and provisioning platform that creates test data, often better than production data — in minutes. QA and ML teams can now easily create, validate, and safely share high-quality data for software testing, model training, and analysis without requiring complex code or configurations. Synthesized has been recognized for data generation innovation as a British Data Awards Finalist: AI Company of the Year and Computing AI, Machine Learning Awards: Most Innovative AI Solution, and has been named a Gartner Cool Vendor. For more information, visit synthesized.io.

About UBS

UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages USD 5.7 trillion of invested assets as per fourth quarter 2023. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 countries around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).