Posted By Gbaf News
Posted on September 16, 2017
SAS is named a category leader in enterprise fraud tech and a category leader in the RiskTech Quadrants® for watch-list monitoring and anti-money laundering solutions
Chartis Research has identified SAS as a RiskTech Quadrant category leader for enterprise fraud technology solutions. The risk and compliance technology-focused research and advisory firm also recognises SAS as a category leader in anti-money laundering solutions and watchlist monitoring solutions.
The RiskTech Quadrants® are part of Chartis Research’s report Financial Crime Risk Management Systems: Market Update 2017. This year’s research notes two key trends moulding financial institutions’ approach to financial crime risk management: an increase in regulatory reports (particularly suspicious activity reports) and the growing complexity of relationships involving correspondent banking, ultimate beneficial owners, and open application programming interface banking.
“Ever-more sophisticated digital financial schemes and constantly shifting regulatory pressures pose a threat to financial institutions, which face not only crime-related losses but reputational damage and steep fines from regulators and law enforcement agencies,” said Sidhartha Dash, Research Director at Chartis Research. “In addressing these new challenges, SAS has domain and advanced analytics expertise, and provides a cross-channel enterprise view of information. It has also invested in industry and fraud prevention technology and its enterprise approach to security intelligence.”
“Whilst financial institutions continue to enhance their protection against fraud risks and crime, the threat of such activities continues to advance,” said Colin Bristow, Fraud and Anti-Money Laundering Specialist, SAS UK & Ireland. ”SAS applies a hybrid approach to fraud detection, supporting adaptation to counter the ever changing threat lanscape. Through the application of multiple advanced and powerful analytical techniques, SAS uncovers the suspicious activities that hide in the data. These techniques can also be exploited in real-time, allowing companies to be reactive, compliant and protect their business and customers.”
As in past years, Chartis Research’s 2017 report uses in-depth independent research and a clear scoring system to analyse technology solutions in the RiskTech, FinTech and RegTech markets. Leading vendors were ranked based on their completeness of offering and market potential, based on detailed briefings and research and analysis by Chartis Research’s subject-matter experts.
Chartis also recently named SAS a category leader in model risk governance solutions. To learn more about SAS’ fraud and compliance portfolio, visit the SAS fraud and security intelligence website.
