As synthetic data in financial services gains momentum, evidence from the Financial Conduct Authority (FCA), the European Commission (EC), and central-bank forums shows it can help close cross-border visibility gaps in risk monitoring and systemic oversight When Lehman Brothers collapsed in September 2008, supervisors around the world struggled to see how risks were propagating through interconnected balance sheets and payment networks. Traditional reporting systems were too slow, too fragmented, and too siloed to provide the real-time visibility needed for effective oversight. More recently, the downfall of Credit Suisse in 2023 underscored how gaps in oversight and opaque cross-border exposures can still destabilize…