This relaunch follows a period of growth, which has seen both the client base and team of Aizle expand, driven by increasing demand for its services.

Aizle is designed to drive innovation through synthetic data, and is now introducing a new brand and launching a standalone website to showcase its offerings.

Originally created in 2023 by Smart Data Foundry, a data innovation organisation, Aizle started as an initiative with two data scientists. It has since grown into a division of 15 members, attracting enterprise clients such as NatWest Group, the Financial Conduct Authority (FCA), TISA, and the Department for Business and Trade.

Aizle sets itself apart by utilising AI simulation through ‘synthetic agents’ to generate complex and large datasets without relying on real data. This approach provides data in situations where real data is unavailable, compromised by privacy issues, or biassed. 

By offering synthetic data, Aizle enables innovation in areas previously deemed too challenging or costly to explore. 

The platform currently serves financial organisations, offering synthetic data for purposes such as testing prototype technological solutions, training AI and Gen AI models, and powering sandboxes to support innovation initiatives. 

Aizle also has plans to expand into new markets, including energy, SME finance, home buying, and telecommunications.

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Unlike other synthetic data approaches, Aizle does not require real data as input. Instead, it uses AI technology to simulate the activities of synthetic people and businesses within a customisable framework of behavioural rules and patterns. 

This generates comprehensive data on individuals’ jobs, spending, financial relationships, businesses’ bills, cashflow, and obligations, tackling critical issues such as fraud scams, environmental impact, and data privacy and ethics.

“We are passionate about the opportunities synthetic data offers for unlocking innovation and disrupting the status quo,” said David Tracy, head of data products at Smart Data Foundry. 

“It benefits not only large enterprises but also empowers start-ups and SMEs. These smaller organisations, which might struggle to access necessary data, can now compete on a level playing field with major financial institutions.”