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SAS an anti-money laundering Leader, says independent research firm

(PRNewsFoto/SAS Institute)

News provided by

SAS

Sep 26, 2019, 07:56 ET

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CARY, N.C., Sept. 26, 2019 /PRNewswire/ -- Analytics giant SAS is named a Leader in The Forrester WaveTM: Anti-Money Laundering Solutions, Q3 2019. In its inaugural evaluation of anti-money laundering (AML) technology, Forrester Research calls SAS® Anti-Money Laundering "one of the most scalable" solutions on the market with "powerful … data integration and federation capabilities."

(PRNewsfoto/SAS)

Given shifting regulations, evolving threats, and immense and growing volumes of diverse data, using AI and machine learning to rapidly detect and report suspicious activity is fast becoming an AML imperative. According to the Forrester Wave report, SAS software's "supervised and unsupervised machine learning based model development is very intuitive and visual and offers many types of configurable algorithms out of the box."

Advanced analytic capabilities like that can help boost AML programs' overall efficiency and effectiveness, including in transaction risk scoring and investigation – even without a requisite army of data scientists.

"SAS helps financial institutions transform and modernize their anti-money laundering programs with industry-leading AI and machine learning," said Stu Bradley, Vice President of Fraud and Security Intelligence at SAS. "This allows them to automate repetitive manual tasks and reduce false positives by 50% or more. One U.S. bank replaced its transaction monitoring system's cash activity scenarios with a SAS neural network model and tripled its SAR conversion rates – while also halving its monthly work items."

Forrester Research evaluated eight AML solution providers against 32 criteria. SAS was noted as "ideal for large enterprises with robust SAS and data science skill sets," earning the highest possible score in the criteria of risk scoring and alerting, case management, reporting, and scalability in transaction volume. In its assessment of SAS, Forrester added, "Reports are configurable and versatile. Queue definitions are flexible in case management."

More than 250 financial services organizations worldwide, including Icelandic bank Landsbankinn, use SAS to help prevent money laundering. Visit SAS online to learn how AI and machine learning are redefining AML.

About SAS
SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2019 SAS Institute Inc. All rights reserved.

Editorial Contact:
Danielle M. Bates
[email protected]
919-531-1959
sas.com/news

SOURCE SAS

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