CRIF and Anonos Join Forces to Deliver Responsible AI Solutions Through Privacy-Preserving Synthetic Data in the Age of Generative AI
New York City and Bologna, May 23, 2023 - CRIF - a global company specializing in credit and business information systems, outsourcing and processing services, as well as advanced digital solutions for business development and open banking, and Anonos - an innovator in enterprise data privacy, security and enablement, partner to deliver disruptive privacy-enhancing technologies for protecting personal and sensitive data.
The collaboration brings together industry leaders committed to delivering cutting-edge solutions for data-driven enterprises.
In regulated environments such as finance, the potential for innovation in AI model development is often hindered by data privacy risks and biases inherent in real-world data. Synthetic data generated by AI algorithms offers a solution by creating new data that preserves statistical relationships without revealing identifiable information. Synthetic data has become crucial for the future of AI, given the increasing regulatory emphasis on data privacy and responsible AI, as demonstrated by the EU's AI Act – a need accelerated by the recent disruptive impact of generative AI. However, the quality of synthetic data often depends on the quality of the model that created it and the dataset developed.
To gain a better understanding of the technology, CRIF opted for an open innovation approach to identify a best-in-class synthetic data technology provider. Following a comprehensive evaluation of 12+ synthetic data tech providers over fourteen months, CRIF chose Anonos as its global partner. CRIF’s customers can access Anonos' Data Embassy technology for privacy-preserving synthetic datasets, unlocking the full potential of their real-world data.
At CRIF, we believe in the power of open innovation and collaboration with startups as a key driver for accelerating innovation. Our Venture Client Program, successfully driven by InnovEcos, CRIF’s Global Open Innovation Hub, aims to find the most promising long-term partners to solve CRIF innovation challenges and meet specific business model integration criteria,”- said Natalia Shchelovanova, Global Open Innovation Lead at CRIF, InnovEcoS.
Anonos' patented Data Embassy software combines state-of-the-art privacy-enhancing technologies (PETs) to transform personal and sensitive data assets into secure, privacy-respectful outputs. These protected outputs preserve analytical value and facilitate compliant data sharing across departments or international borders.
By leveraging Anonos' technology, CRIF can create a safe data environment for their customers to unlock new data insights compliantly, allowing better decisions and accelerating digital innovation by keeping pace with developments like Large Language Models (LLM) and generative AI.
We chose Anonos because of their unique award-winning technology and the deep expertise they demonstrated in the use cases relevant for our clients,” said Pierpaolo Cristaudo, Head of Global Data Science at CRIF. “Our clients can now access synthetic data generated by Anonos directly within the CRIF Studio analytical suite. This will enable data scientist teams to use the most advanced synthetic data solutions in a seamless manner, ensuring the highest standards of data protection."
We are delighted to partner with CRIF, a leading enterprise in the credit bureau and business information services industry," said Steve Prestidge, Chief Commercial Officer of Anonos. "Together, we will enable CRIF's clients on their race from idea to innovation, allowing them to optimize their datasets while ensuring privacy and security."
Together, Anonos and CRIF are committed to helping their clients navigate the complex landscape of privacy and responsible AI. This partnership is a major step towards achieving that goal and delivering the best possible outcomes for CRIF customers.
Anonos is an innovator in enterprise data privacy, security and enablement. Our globally patented, award-winning Data Embassy software digitizes and technologically enforces privacy and security policies, so organizations can safely optimize their sensitive data assets across departments or around the globe. The solution uses a combination of privacy-enhancing technologies to transform source data into lawful variations that can travel everywhere thanks to the embedded technical controls that ensure compliance. From testing through production, we provide enterprises with full-spectrum data protection for their use cases regardless of environment for faster speed to insight and value. Learn more by visiting anonos.com
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is a global company specializing in credit & business information systems, analytics, outsourcing and processing services, as well as advanced digital solutions for business development and open banking. The mission that drives CRIF is to create value and new opportunities for consumers and businesses by providing reliable information and solutions, allowing more powerful decisions and accelerating digital innovation.
CRIF is currently the leading banking credit information group in continental Europe and a major player in the global market for integrated business & commercial information and credit & marketing management services. Through continuous innovation, the use of state-of-the-art technology and a strong information management culture, CRIF supports financial institutions, credit unions, insurance companies, telco, media, utility and energy companies, businesses, and consumers. In addition, as part of its end-to-end solutions, CRIF has developed a line of services for individuals and SMEs dedicated to financial well-being and the prevention and protection against fraud and cyber risks, while CRIF Ratings, a credit rating agency authorized by ESMA and recognized as an ECAI, provides ratings on non-financial companies based in the EU. In addition, in 2019 CRIF expanded its coverage as an AISP to 31 European countries where the PSD2 directive for open banking is applicable.
Currently over 10,500 banks and financial institutions, more than 600 insurance companies, 80,000 companies and 1,000,000 consumers currently use CRIF services in 4 continents.
For more information: www.crif.com