Smart Data Foundry News

We are thrilled to bring you the latest updates and highlights from our Smart Data Foundry and aizle.ai . As we continue to grow and innovate, we’re eager to share the achievements, news, and milestones that make our journey together so impactful.

Innovation Challenge Winners Announced: Doqit and Planda AI

We’re excited to announce the winners of our recent Innovation Challenge with FinTech Scotland ! After a wonderful showcase day at PwC UK Offices in Edinburgh, judges from PwC, NatWest Group , and Royal London , Doqit, and Planda AI have emerged as standout innovators, impressing the judges with their groundbreaking solutions.

doqit 's life-admin app was born out of Catherine Ann Reid ’s struggle to manage life admin while caring for her daughter Chloe. Drowning under mounds of paperwork, hospital appointments and tax returns, she embarked on a journey to create a single, simple place for people to manage their day-to-day life admin, such as monitoring bills and tracking insurance policies and multiple pensions.

Planda AI headed by Sam Brown designed an AI and machine learning financial well-being platform that revolutionises how financial services firms engage with their customers about their finances. It provides a bridge between technology and personal finance, using AI and the psychology around money to understand people’s financial lives in a new way.

We look forward to seeing how their innovations will shape the future of later-life financial planning.

New Research Highlights the Poverty Premium in Energy Costs

A new piece of research from the University of Edinburgh Business School has uncovered a troubling reality: people living in poorer households are more likely to face higher energy costs, adding to the financial strain they already endure. This insightful work, led by PhD student Fiona Rasanga , who collaborates closely with our team, sheds light on the daily economic challenges many face. Her research is essential for anyone interested in understanding the nuances of the poverty premium and its impact on economic well-being.

You can explore this important research and its implications here.

Collaborating with the Financial Times on Discretionary Expenditure

Last week, we had the opportunity to support Joel Suss and Mari N?vik from the Financial Times on a story that dives deep into discretionary expenditure. Our involvement was led by Nathan Bourne and supported by Harry Peaker and Mike Spencer from Smart Data Foundry. Their finance and data science expertise provided valuable insights into this critical aspect of economic analysis.

We encourage you to look at their work using this link and learn more about how discretionary spending impacts financial stability and economic vulnerability.

Smart Data Foundry Launches Groundbreaking Synthetic Data Platform

Since its inception in 2023, Aizle.ai, our #syntheticdata engine, has grown rapidly from a small research initiative to a key division within Smart Data Foundry, with enterprise clients including NatWest Group, the Financial Conduct Authority (FCA), and the Department for Business and Trade .

In August 24 we launched the world’s first self-service agent-based synthetic data generation product with the release of version 2.0 of the Aizle platform. This innovative tool allows users to generate secure, high-quality synthetic data without needing real data or specialised expertise.

The Aizle platform democratises access to synthetic data, making it affordable for small businesses and startups by allowing them to customise the data to their needs at a fraction of the cost. With the synthetic data market forecasted to reach $2.1 billion by 2028, Aizle is already gaining strong traction among banks, FinTechs, and financial regulators.

“This new platform will open up the toolbox to synthetic data – until now, financial services institutions have been spending months tracking down and tidying up training data, clearing it for use with their compliance teams, and then spinning up teams of machine learning specialists to generate data, on for example financial fraud. Instead, they can log in to their Aizle account, set their parameters, and the data will be ready to use within a matter of minutes or hours depending on how detailed their requirements are.By democratising data access, Aizle’s self-serve platform empowers users to independently generate and utilise agent-based synthetic data effortlessly, driving innovation and efficiency in their operations. While we are initially targeting the UK market, we can develop synthetic data for any market, we’re already building on interest internationally and intend to offer the service to financial institutions and regulators around the world.”