The FCA announced consultations

This week, the FCA launched a consultation on the use of synthetic data in the financial sector. Synthetic data is a private method that provides an opportunity for more secure data exchange. This method is already used in other areas, but it is a novelty for finance. FCA has conducted several studies and experiments as part of the study of synthetic data. The participants of the Digital Sandbox pilot project called synthetic data, the most valuable feature of the platform. The FCA tries to find out how much companies are interested in utilizing synthetic data.

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