SAS lands Risk Management Technology award
The Banker, a premier international banking and finance publication and resource, has presented SAS, the leader in business analytics software and services, with the Risk Management Technology award in the Innovation in Banking Technology Awards 2012. SAS has received this honour on the strength of its SAS® Risk Management for Banking solution.
After a rigorous evaluation of risk management offerings available to the banking sector, The Banker found SAS Risk Management for Banking to be a comprehensive, end-to-end solution for performing risk analysis and risk-based capital calculations. The solution supports a bank's risk management activities by delivering functionality for all major risk types, as well as data management and reporting. By deploying the SAS solution, banks’ business units can calculate risk measures independently and separately, as well as firmwide, using models and correlated aggregation techniques.
"Risk management technology has never been more important," said John Beck, Trading and Technology Editor at The Banker. "In the wake of the financial crisis, weaknesses were exposed in identifying and dealing with risks across business lines and the firm as a whole, leading many banks to embark upon extensive overhauls of their risk management operations. Meanwhile, a drastic increase in regulatory requirements made comprehensive reporting and monitoring systems a necessity. A judging panel of more than 20 banking CIOs from across the globe felt that SAS helps financial services firms to meet these challenges better than any other."
Mark Wilkinson, Managing Director of SAS UK and Ireland, added, "The continued uncertainty of the global economic landscape and risk regulation provide both challenges and opportunities for global banks. SAS is investing in high-performance analytics to deliver on-demand, near real-time risk analysis of large and complex portfolios can significantly benefit firms that need dynamic portfolio valuations, continuous limits monitoring, and on-demand aggregation of counterparty credit exposures or liquidity risks. Our goal is to help our clients make fact-based decisions using comprehensive analytics to maximize returns on risk-adjusted capital."
The Banker's Innovation in Banking Technology awards celebrate those behind the industry's brightest ideas and are based on the recommendations of a panel of CIOs and senior heads of technology at top financial institutions.
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