{"id":525647,"date":"2021-12-08T05:39:47","date_gmt":"2021-12-08T05:39:47","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&#038;p=525647"},"modified":"2021-12-08T18:03:38","modified_gmt":"2021-12-08T18:03:38","slug":"synechron-and-leapyear-technologies-partner-to-accelerate-the-use-of-differential-privacy-solutions","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/synechron-and-leapyear-technologies-partner-to-accelerate-the-use-of-differential-privacy-solutions\/","title":{"rendered":"Synechron and LeapYear Technologies partner to accelerate the use of \u2018differential privacy\u2019 solutions"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-524780 alignright\" src=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/11\/1519856356183.jpeg\" alt=\"Synechron, Digital Transformation, Differential Privacy, LeapYear Technologies, USA\" width=\"175\" height=\"175\" srcset=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/11\/1519856356183.jpeg 200w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/11\/1519856356183-150x150.jpeg 150w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/11\/1519856356183-100x100.jpeg 100w\" sizes=\"auto, (max-width: 175px) 100vw, 175px\" \/>Synechron Inc., a leading\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.synechron.com\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">digital transformation consulting firm<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0focused exclusively on the financial services industry, recently announced its partnership with\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/leapyear.io\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">LeapYear Technologies<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0to accelerate the use of \u2018differential privacy\u2019 solutions that Synechron can provide to its top tier banks, asset management firms, insurance companies, and stock exchange clients. LeapYear provides solutions to unlock commercial value from the large-scale collection and use of data, all in a mathematically proven, scalable, rigorous, and anonymized way.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Synechron and LeapYear have been working together since last year to elevate LeapYear\u2019s best-in-class solutions and validate the outcomes and benefits through the co-development of a Proof of Concept. Moving forward, Synechron and LeapYear will enable financial services firms to unlock extraordinary value from their collected data with ironclad protection of the source. Synechron brings deep <a href=\"https:\/\/ibsintelligence.com\/ibsi-news\/synechron-joins-the-fintech-open-source-foundation-to-further-open-source-mutualization\/\">financial services<\/a> industry domain knowledge and a complete understanding of the prework and engineering that must be done to properly implement differential privacy solutions. LeapYear continues to develop tools that enable financial services firms to optimally use data to protect the identity of the source.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Sandeep Kumar, Managing Director, Innovations at Synechron<\/span>, <span data-preserver-spaces=\"true\">said, \u201cLeapYear has advanced a new generation of technology that can be tapped for privacy preserving data access and use. This allows firms to monetize the vast amounts of data they collect. These datasets are often siloed within different lines of business across a financial services company for regulatory and confidentiality reasons. But, with a solution like LeapYear, this data can be collectively leveraged to derive analytics and valuable insights, while still keeping individuals, clients and institutions private. That data, after application of these powerful solutions, can be shared with external partners without worrying about exposing client information.\u201d He continued, \u201cWe are excited to be working with best-in-class technology firm LeapYear as we help our clients tackle their goals to generate more business value from data while respecting privacy and confidentiality requirements.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Anantha Sharma, Synechron\u2019s Director &#8211; Innovations &amp; Data Science, London, UK, said, \u201cBy applying sophisticated use-case specific techniques through differential privacy, data can now be shared in a safe way. Businesses can infer certain characteristics that can be used commercially, all without any data leakage. This can be applied to real-world situations, such as in developing flow data products, creating credit risk models to predict loan losses, for use with FICO scores and for credit card issuance, among other situations.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Synechron has been working to prepare its technical teams and FinLabs experts across the globe on the use and deployment of LeapYear\u2019s solutions and will make this available to its financial services clients across North America, Europe and Asia. Moving forward, Synechron and LeapYear will be working to develop other use cases and solutions that will provide additional tangible benefits to companies.\u00a0 \u00a0\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Ishaan Nerurkar, CEO of LeapYear Technologies<\/span><strong><span data-preserver-spaces=\"true\">,\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">said, \u201cLeapYear\u2019s solutions are becoming the defacto way for capital markets teams to fully leverage their data. Our solutions allow enterprises to break down silos, form data partnerships, and maximize the commercial impact of their franchise data.\u201d He added, \u201cWe are excited to be working with Synechron to help its financial services clients within this highly regulated industry generate maximum commercial value from their data without concern for compromising client privacy.\u201d\u00a0\u00a0<\/span><\/p>\n","protected":false},"author":35276,"featured_media":524780,"parent":0,"template":"","categories":[11395,11383],"tags":[11712,11853,20451,20521,20519,11508,12160,20520,20454,20452,14288,20453,15892,11416],"class_list":["post-525647","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-analytics","category-big-data","tag-asia","tag-credit-risk","tag-differential-privacy","tag-differential-privacy-solutions","tag-digital-transformation-consulting-firm","tag-europe","tag-fico","tag-financial-services-industry","tag-finlabs","tag-leapyear-technologies","tag-north-america","tag-proof-of-concept","tag-synechron","tag-usa"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.9 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Synechron and LeapYear Technologies partner to accelerate the use of \u2018differential privacy\u2019 solutions<\/title>\n<meta name=\"description\" content=\"Synechron Inc., a leading\u00a0digital transformation consulting firm\u00a0focused exclusively on the financial services industry, recently announced\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/synechron-and-leapyear-technologies-partner-to-accelerate-the-use-of-differential-privacy-solutions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Synechron and LeapYear Technologies partner to accelerate the use of \u2018differential privacy\u2019 solutions\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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