SAS ranks in the top three in report on financial crimes risk management systems
CARY, NC - SAS, the leader in Business Analytics software and services, is ranked in the top three in financial crimes risk management by Chartis Research in its Financial Crimes Risk Management Systems 2009 report. The report evaluates software vendors in regards to “completeness of offering” and “market share potential.” Chartis Research noted SAS’ strengths in credit risk (particularly retail banking) and operational risk as key differentiators. Also, SAS® software was ranked high by Chartis in several areas including advanced analytics, data management and integration, configurability and support capabilities.
“Chartis considers SAS as one of the leading players in the provision of technology solutions for financial crime risk management,” said Helen Townsley, Director of Research at Chartis Research. “SAS is one of the few technology vendors that has taken a fully integrated platform approach to developing its financial risk management solutions and anti-money laundering solutions. With the current financial crisis and high profile failures, leading technology vendors need to provide an integrated enterprise risk management offering which can analyze and report on the gaps and overlaps between credit risk, operational risk and financial crime.”
Chartis forecasts the global market for financial crime risk management technology to grow to $3.75 billion by 2012, at a compound annual growth rate of 13.1 percent. The report examines both the demand and supply side of the market for financial crime risk management technology. It specifically covers the market requirements for fraud and anti-money laundering technologies and forecasts of market size, competitive landscape and best practices.
According to Chartis, the common factor among established leaders such as SAS is that “forward looking vendors have seized the opportunity to identify the common functional components (e.g. case management, risk analytics, reporting) and established clear strategies for a component-based solution.” Chartis states that “those vendors with a strong pedigree in business intelligence, analytics and data-integration have been able to add the required integration layers on top of their existing point-solutions to provide a more seamless enterprise solution.”
Chartis highlighted that “the SAS Financial Crime solutions integrate analytics, advanced decisioning capabilities, and sophisticated rules into a single Enterprise Financial Crimes Platform.” The research company complimented the functional SAS components of data analytics and alert generation, alert and workflow management, and lastly case management. Chartis is confident that “the [SAS] solution set enables accurate scoring of all transactions at the point of sale (POS) to stop fraudsters immediately and delivers a cross channel, cross line of business approach to detecting and preventing the more sophisticated and dynamic attacks.”
[Source: Financial Crime Risk Management Systems 2009, Chartis Research, February 2009.]
About Chartis Research
Chartis Research is the leading provider of research and analysis on the global market for risk technology. Our goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance. We help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology. www.chartis-research.com
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 45,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world The Power to Know®
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