SAS - A Risktech Quandrant Category Leader for Enterprise Fraud Management

By CIOReview | Wednesday, January 21, 2015

CARY, NC: SAS is a leader in the RiskTech Quadrant for anti-money laundering (AML) and transaction monitoring solutions according to Chartis’ Financial Crime Risk Management Systems 2014 report.

“Leading financial institutions are rethinking their organizational structures to manage financial crime risk more effectively,” says the report. “The integration and alignment of risk and compliance functions will be crucial if the financial services sector is to address the broader sources of financial crime risk and tightening regulation to which it is exposed today.”

With the help of SAS Security Intelligence, organizations can defend fraud and financial crime through an enterprise approach based on a common data management, analytics and reporting platform, offering solutions for fraud, customer due diligence, anti-money laundering and case management. With streamlined monitoring, data visualization, triage and investigation capabilities, institutions can uncover suspicious activity efficiently through a complete view of threats across the organization.

“It’s crucial for organizations to tackle financial crime through integrated risk and compliance,” said Peyman Mestchian, Managing Partner at Chartis. “SAS is well positioned with respect to the key technology requirements around data management, advanced analytics, and integrated alert and case management as well as offering a leading enterprise approach to fraud and financial crime.”

The report highlighted model risk management and governance as key requirements, since financial crime risk management systems demand transparency. Regulators require evidence that systems work through demonstration and proof of non-discrimination. Chartis explains that “risk management and model governance are an important part of these requirements for greater transparency.”