Synthesized receives UBS Next investment that will further the development of high quality data for software testing
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The strategic investment by UBS Next into Synthesized Ltd underscores the heightened demand for innovative data management solutions in the financial sector. As companies transition to cloud-based infrastructures and develop more AI-driven applications, the ability to quickly generate high-quality, compliant test data is critical. This move by UBS Next not only reflects confidence in Synthesized's technology but also signals a broader industry trend towards investing in digital transformation and data security.
The implications of this investment are substantial for the market. It indicates a shift in priorities towards tools that enable faster development cycles and more efficient cloud adoption strategies. For stakeholders, this could translate into enhanced competitiveness of UBS as they leverage Synthesized's capabilities to streamline their development processes. However, as the demand for such technologies grows, there may be increased competition and pressure on pricing, which could impact Synthesized's market positioning and profitability in the long term.
The financial injection from UBS Next into Synthesized Ltd is likely to have a positive impact on Synthesized's valuation. This partnership could potentially accelerate Synthesized's growth trajectory, opening up new market opportunities and expanding its customer base. For UBS, the investment is strategic, potentially offering a competitive edge by improving internal efficiencies and reducing costs associated with data management.
From an investor's perspective, the focus should be on how this investment contributes to UBS's operational efficiency and whether it could lead to improved financial performance. The ability to catch software bugs earlier and reduce data privacy risks can lead to significant cost savings. However, it is essential to monitor how effectively Synthesized integrates with UBS's existing systems and the scalability of their solutions within UBS's large and complex organizational structure.
The investment in Synthesized Ltd by UBS Next highlights the growing importance of data security and compliance in the financial industry. Synthesized's AI-driven approach to creating privacy-preserving test data aligns with the stringent regulatory requirements faced by financial institutions. This technology could mitigate risks associated with data breaches and non-compliance penalties.
For the industry at large, Synthesized's approach represents a significant advancement in how data is handled during the software development lifecycle. The promise of '0% production data leakage risk' is particularly compelling, given the potential reputational damage and financial losses associated with data leaks. Nevertheless, the effectiveness of these security measures needs to be proven in practice and it will be crucial to observe how Synthesized's solutions perform in real-world scenarios within UBS and other clients' environments.
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
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SOURCE Synthesized, Inc.
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