CARY, N.C., Sept. 13, 2017 /PRNewswire/ --Â 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 recognizes SAS as a category leader in anti-money laundering solutions and watchlist monitoring solutions.
The RiskTech QuadrantsÂ® are part of Chartis Research's report Financial Crime Risk Management Systems: Market Update 2017. This year's research notes two key trends molding 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."
"Although financial institutions are acutely aware of fraud risk and financial crime, the threats continue to evolve and multiply," said David Stewart, Director for Financial Crimes and Compliance at SAS. "SAS blends data aggregation, advanced analytics and forensic investigation to support a holistic, real-time view of financial crime risk across the enterprise. And SAS software's in-memory analytics help data scientists use machine learning and other advanced techniques to quickly identify and react to emerging threats."
As in past years, Chartis Research's 2017 report uses in-depth independent research and a clear scoring system to analyze 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 Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and Waters Technology. Chartis's goal is to support enterprises as they drive business performance through improved risk management, corporate governance and compliance and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology. The RiskTech QuadrantÂ® uses a comprehensive methodology of in-depth independent research and a clear scoring system to explain which technology solutions meet an organization's needs. The RiskTech QuadrantÂ® has a sophisticated ranking methodology to explain which solutions would be best for buyers, depending on their implementation strategies. RiskTech QuadrantÂ®, RiskTech100Â® and FinTech Quadrantâ¢ are registered trademarks of Chartis Research. www.chartis-research.com
SAS is the leader in analytics. Through innovative analytics, business intelligence and data management software and services, SAS helps customers at more than 83,000 sites make better decisions faster. Since 1976, SAS has been giving customers around the world THE POWER TO KNOWÂ®.
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. Â® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright Â© 2017 SAS Institute Inc. All rights reserved.
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