Asia Awards 2021: Best alternative data initiative—Standard Chartered Bank

Taking the plaudits in the new best alternative data initiative category is Standard Chartered Bank. The bank’s success is thanks to its in-house developed tool, Rapid-G, which enables synthetic data generation at scale and speed.

Generation of meaningful data is essential for carrying out high-quality testing, such as volume and stress testing and the higher the quality of the testing, the lower the likelihood of data-related issues in production. Historically, the generation of such huge volumes of data has taken days, but Rapid-G has cut typical time spend from between 21 and 40 days to between 30 minutes and three hours.

Rapid-G has been designed to be flexible and can be applied to a wide range of use cases. Supporting all popular data formats, it allows users to generate data related to any business function using the schema of their choice or, if required, to build a schema on its user interface.

Other notable highlights include Rapid-G’s capability to support referential integrity-based linkages, which is considered a key differentiator against competing market products. Furthermore, while most products typically only support batch data generation, Rapid-G is able to integrate with real-time pipelines such as Kafka.