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Diveplane Takes First Place at the UBS Future of Finance Challenge 2019 for Technology Enablement

By November 6, 2019July 17th, 2020No Comments

Company’s synthetic data generation technology, GEMINAI, recognized as a superior solution for digital financial transactions

RALEIGH, NC –November 6, 2019–Diveplane, the company keeping the humanity in artificial intelligence (AI), has been awarded first place in Technology Enablement at the UBS 2019 Future of Finance Challenge 2019 for their work in producing accurate synthetic datasets without using any private information.

The Future of Finance Challenge 2019, the third iteration of the UBS contest, is an open competition for financial technology (fintech) start-ups and tech entrepreneurs from around the world. The finalists showcased a range of innovative and disruptive technological ideas and solutions that all addressed specific challenges regarding the future of finance and banking.

“Fintech needs machine learning that can explain itself, and what makes Diveplane’s technology unique is that every algorithm is an open book,” said Dr. Michael Capps, CEO of Diveplane. “We’re proud to have won such a prestigious award and to have been considered among such accomplished finalists from around the globe. It’s exciting to see Diveplane’s GEMINAI technology recognized as a solution for highly regulated financial organizations looking to move data without any privacy concerns, and we look forward to collaborating with UBS and raising awareness of the value of AI in financial institutions.”

Diveplane’s AI platform GEMINAI creates a verifiable synthetic ‘twin’ dataset that maintains the same statistical properties of the original data, but doesn’t include any real-world confidential or personal information. The resulting synthetic dataset allows businesses to analyze and share relevant data while safely knowing that should this data be mishandled, lost, or stolen, it contains no real, sensitive information. This level of privacy is critical for businesses, like financial institutions, that are subject to national and international privacy laws and compliance requirements.

Winners of the UBS Future of Finance 2019 Challenges will go on to meet with UBS experts, mentors and partners over the coming months to work together on a global scale. This collaboration will help the industry utilize the most current, cutting-edge technology and prepare for the digital transformation of banks worldwide. For more information about the UBS Future of Finance Challenges and this year’s winning tech solutions, please visit https://www.ubs.com/microsites/future-of-finance-challenge/en.html

For more information about Diveplane, please visit: www.diveplane.com.

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About Diveplane

Diveplane is keeping the humanity in artificial intelligence (AI). The company was co-founded by Dr. Michael Capps, former President of Epic Games, in 2018 and develops technology that helps businesses and government organizations understand AI with a trainable, interpretable and auditable. Diveplane headquartered in Raleigh, North Carolina. For more information on Diveplane, please visit www.diveplane.com or follow the company on LinkedIn and Twitter.