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ANTI-TERRORISM

The new face of terrorist activity detection

Terrorist and criminal organizations continue to raise funds through a wide range of criminal activities, and their financing efforts often prey on vulnerable government programs. This case study of a Hammoud terror cell shows how a hybrid analytic approach empowers government agencies and law enforcement to connect the dots.

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crowd
PUBLIC SECURITY

Stop profiling, start analyzing

Profiling isn't a particularly effective way to identify high-risk travelers or freight. A better option is risk scoring. This technique uses intelligence, behavioral modelling and data analytics to assess the risk.

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three people talking
CUSTOMER DUE DILIGENCE

Rethink Customer Due Diligence

Given recently enacted compliance laws like the Foreign Account Tax Compliance Act (FATCA ), there’s never been a better time to re-examine your current CDD processes and enabling technology. Automated analytical tools can help you accurately segment and identify customers by the risk they represent so you can monitor them appropriately and make the best use of investigative resources.

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trade-based money laundering - globe in a box
ANTI-MONEY LAUNDERING

Follow the money

Trade-based money laundering can take many forms, from simple bartering to commodity exchanges. As long as the parties don’t get too greedy, they can go virtually undetected. John Cassara, former intelligence officer and Treasury Department special agent, invented the concept of Trade Transparency Units. Today, he talks about the value of analytics in countering trade-based money laundering.

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man scratching head bcbs 239
BANKING - REGULATORY SECURITY

BCBS 239: More questions than answers?

In the first installment of our risk management video series, Peyman Mestchian, Managing Partner at Chartis Research, and Tom Kimner, Head of Americas Risk at SAS, discuss the principles and the questions the principles leave unanswered. For instance: How will the principles be implemented, executed and enforced? What kind of investments do you need to make? What is risk data?

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strongest link
CYBERSECURITY

Three cybersecurity best practices

Cybercrime is responsible for the loss of billions of dollars. Cybercriminals steal identities, hijack networks and access sensitive data. And the tools and techniques they use are continually evolving. What can you do to stop them? Minimize the risk?

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ACHILLES' HEEL
BANKING - REGULATORY COMPLIANCE

Data quality: The Achilles' heel of risk management

Given the tightly regulated environment banks face today, the importance of data quality cannot be overstated. Beyond the obvious benefits of staying one step ahead of regulatory mandates, having accurate, integrated and transparent data will drive confident, proactive decisions to support a solid risk management foundation.

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commodities analytics arm race
COMMODITY TRADING - REGULATORY COMPLIANCE

A new arms race: Analytics for commodity market compliance

Today’s regulators now employ big data analytics to uncover troubles in the commodity swaps market. Staying ahead of innocent compliance errors – and quickly identifying the occasional bad actor from within – will require some tough analytics of your own.

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big data
BANKING - REGULATORY COMPLIANCE

Three lessons learned from the model that almost killed Wall Street!

No one wants his name associated with a global financial meltdown. Poor David Li. The misuse of his beautiful model contributed to the financial crisis that started in 2008. Model risk can never be eliminated, but Sunny Zhang believes there are at least three things modelers can do to help manage it.

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big data
BANKING - REGULATORY COMPLIANCE

How to monitor emerging risks

Peter Sofarelli, Director of Financial Services Sales at SAS, talks with the Argyle Journal about advancements in analyzing portfolio risks and how banks are employing new technologies to keep up.

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big data
BANKING - FRAUD

How to uncover common point of purchase

For issuing banks, a critical aspect of controlling card fraud is CPP analysis. CPP analysis identifies the likely merchant location where card numbers were stolen, allowing banks to mitigate future fraud on other compromised cards.

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big data
PUBLIC SECURITY

Big data and public security

Working together, agencies can harness the power of big data to understand the continuum of past, present and future – with a proactive focus on the future. Since the big data analytics foundation is available, there are no excuses. The mission of public health, safety and security, require us to take action.

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understanding capital requirements
BANKING - REGULATORY COMPLIANCE

Four focus areas for successful stress testing

Stress testing is not new to the risk world. But the increased complexity, expected frequency and firm-wide nature of scenarios present new challenges. That being said, to deliver a successful stress testing program, there are five key areas you should address.

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understanding capital requirements
BANKING - FRAUD

Our anti-money laundering efforts have failed

John Cassara says that history has shown us that our efforts in anti-money laundering – following dirty money, identifying and taking away illicit proceeds, and punishing money launderers – is abysmal. What can we do to change this?

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understanding capital requirements
BANKING - REGULATORY COMPLIANCE

Understanding capital requirements

Credit risk classification systems have been in use for a long time, and with the advent of Basel II, those systems became the basis for banks’ capital adequacy calculations. What is needed going forward is an efficient and honest dialogue between regulators and investors on capitalization.

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6 skills for SIU analysts
INSURANCE - FRAUD

Six essential skills for SIU analysts

The speed and volume of information necessary for modern SIU analytical efforts has created a need for analysts with specialized skills. The skill set includes an ability to amass data from disparate sources and shape it into a format that helps identify, analyze, investigate, manage and understand fraud risk.

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cybersecurity defense postures
CYBERSECURITY

Top 4 cybersecurity defense postures

Some organizations use a combination of postures - others have only one. Jen Dunham and Chris Smith, SAS, discuss the four main postures for you to consider.

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ideas and discussion
BANKING - REGULATORY COMPLIANCE

Less talk, more action

Last week's announcement by The European Banking Authority of its 2014 EU-wide stress test triggered an uproar of divergent opinions and criticism that will rumble for some time. This new methodology will profoundly impact how the European and global economies evolve.

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eligibility fraud
INSURANCE - FRAUD

Are you covering who you think you’re covering?

How rigorous are you in determining membership eligibility? If you are not diligent enough, you may be letting money slip out the door. In fact, by some estimates, between 4 and 18 percent of all health plan benefits are paid out in error due to eligibility fraud issues.

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Regulatory requirements
BANKING - REGULATORY COMPLIANCE

Experts: Nothing simple about meeting regulatory requirements

Experts discuss the trends and technologies that affect how financial institutions handle the growing number of regulations and regulatory agencies. They answer the question of how data and analytics help.

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cyber silk road
GOVERNMENT - CYBERSECURITY

Follow the cyber Silk Road

Cyber marketplace. Digital bazaar. What do you call an underground shopping center of tutorials on fraud methods – hacking social media sites, obtaining anonymous bank accounts, trafficking in counterfeit currency and acquiring stolen credit card information? Law enforcement uses a combination of boots on the street and analytics to catch the cyber criminals – both “shoppers” and “store keepers.”

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Heartbleed image
PUBLIC SECURITY

How data visualization helps crack down on crime

Across the world, law enforcement agencies are making more intensive use of data visualization technologies. They gain a real-time view of locations, layered with crime, traffic, geospatial, weather and other data. This means decisions are based on solid, robust data and resources allocated to guide intervention and crime prevention. Data visualization can make this possible for you too.

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CYBERSECURITY

Five hurdles to effective cybersecurity

In the battle against cybercrime, it often seems that as soon as you've learned the ins and outs of one threat, another comes along that is twice as devilish. It's like running a 100 meter hurdle against an Olympian - and your hurdles are twice as high. Jen Dunham and Chris Smith discuss five hurdles you might be facing and how they think you can compete in that race.

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Heartbleed image
INSURANCE - FRAUD

Why it's so easy to steal from insurance companies – and what to do about it

The former leader of a successful and sophisticated fraud enterprise that operated in Southern California recently spoke to a group of leading fraud investigators in Florida about how he was able to steal so much money from them, who does it and why it's so easy.

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NATIONAL SECURITY

Why big data analytics holds the key to tackling the changing terror threat

Everyone leaves a data footprint behind to follow – bank accounts, travel patterns, phone records and online activity. That sounds useful. You could just sift through all of that to find the next terrorist. Right? Sounds good on paper, but that is a lot of data – really big data. The advantage of advanced analytics is that you don’t need to know what you’re looking for.

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Heartbleed image
NATIONAL SECURITY

Demons of Gadara: Terrorism financing

Trent Smith interviewed John Cassara about his book and what motivated him to write it. Cassara says he combined the things he learned as a former “street” agent with some of the things he’s learned from SAS. Cassara uses fiction to show some of the real challenges and dangers in terrorism financing.

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Heartbleed image
BANKING - REGULATORY COMPLIANCE

The good news and the bad news

Last week, the Basel Committee on Banking Supervision released the “Supervisory framework for measuring and controlling large exposures,” which provides a less strict definition of capital and revised formulas for measuring exposures and derivatives. What do you need to meet those changes?

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Heartbleed image
CYBERSECURITY

How to beat Heartbleed

Commonly used security tools are no match against a security hole like Heartbleed when data volumes are very high or a long timeline is involved. High-performance analytics is critical for the type of behavioral analysis you would need to detect this type of vulnerability. Jen Dunham explains how.

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Photo of Dr. Bob Mark
BANKING - REGULATORY COMPLIANCE

Stress testing: A board-level issue

Firms should still have a contingency plan for rare or extreme events. Stress testing focuses on analyzing risks associated with those events.

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Heartbleed image
INSURANCE - FRAUD

Six inhibitors to analytics adoption in claims

Media and industry information might lead to the assumption that most insurers are using predictive analytics for well-defined improvements in the claims arena. But after conducting research and interviews with insurance executives, The Gorman Group and SAS found this was not the case. Most insurers underuse predictive analytics in claims – and fail to get the full value from their claims data.

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Heartbleed image
BANKING - REGULATORY COMPLIANCE

What is a risk model?

Banks use multiple models to meet a variety of regulations (such as CCAR and Basel III). With increased scrutiny on model risk, bankers must establish a model risk management program for regulatory compliance and business benefits. Begin the planning by clearly defining what a risk model is.

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article Big Data Lessons From Google Flu Trends
HEALTH CARE

The future of health care claims processing

To contain costs, health care organizations are changing the way they pursue claims overpayment. Traditionally, the focus was mainly on fraud. But today - in a process more broadly labeled payment integrity - plans are seeking to uncover a wider range of abuse, waste and errors and data-driven analytics is making that possible.

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article How Data Stewards Score with Data Visualization
BANKING - CYBERSECURITY

Keep your eye on the ball

Keep your eye on the ball: In this case, the ball is your data. There is so much data today – and coming from so many places – that it’s no longer feasible for you to keep that information in multiple places across your organization. Those silos are risky because what starts as a cyberattack can often lead to fraud or money laundering, which is difficult to detect when data is scattered everywhere.

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Ariticle M Payments
GOVERNMENT - FINANCIAL CRIMES

How m-payments might be the global money-laundering machine of criminals’ dreams

Millions of people now use their mobile phones for banking – and hidden among them are criminals. “M-payments will be one of the next big laundering methodologies that we have to confront,” says John Cassara, who spent 26 years as a covert CIA case officer and US Treasury agent.

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Article Six Guidelines
BANKING - REGULATORY COMPLIANCE

Six guidelines for constructing stress tests

Stress tests work well to highlight hidden weaknesses in a risk management system, such as hidden “hot spots” in a portfolio under extremely negative market conditions. When constructing stress tests, keep these six guidelines in mind.

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How big data analytics can be the difference for law enforcement
PUBLIC SECURITY

How big data analytics can be the difference for law enforcement

The real value in big data analytics is that you don’t have to know what you’re looking for before you start. This is a huge benefit to law enforcement agencies that are facing tighter budgets and scarcer resources.

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Seven marketing operations best practices
BANKING - CYBERSECURITY

Situational awareness – ‘seeing’ your security gaps

In the past, financial services organizations and government agencies have looked at cybersecurity as an IT problem. Today we know that we have to look at it as a risk management problem. Situational awareness should be part of the broader risk management strategy because cybersecurity isn’t just an IT problem.

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Article Anti Laundering
GOVERNMENT - CYBERSECURITY

Fighting cyberwars with cyberanalytics

Mike McConnell, former US Director of National Intelligence, told the US Senate, “If the United States were at cyberwar, it would lose.” If that is even remotely true, cyberdefenders need to be outfitted with the most effective weapon for winning that war – analytics.

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article risk State governement Police officer using computer in car
PUBLIC SECURITY - POLICING

How police forces can use data to prevent crime

Today's police forces are focusing their efforts on preventative policing - making it harder for criminals to commit crime in the first place. To accomplish that they need information on time and in a format that helps them identify and recognize suspicious behavior and activities.

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Article Fraud Prevention.
INSURANCE - FRAUD

Six ways big data analytics can improve insurance claims processing

Why make analytics a part of your claims processing? Because adding analytics to the claims life cycle
 can deliver a measurable ROI. Just a 1 percent improvement in the loss ratio for a $1 billion insurer is worth more than $7 million on the bottom line.

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article Educating informed "intuitants",78467915
BANKING - REGULATORY COMPLIANCE

Four themes running through the BCBS 239 principles

The 14 principles of BCBS 239 cover a lot of ground, ranging from IT infrastructure and governance arrangements, to the way that risk management departments generate ad hoc reports. Understanding the four underlying themes may aid in compliance.

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Article Combating Blood Money
NATIONAL SECURITY

Combating blood money with big data

“Illicit proceeds from crime are blood money, and blood money should have no place in the U.S. financial system.” That was the conclusion of a report released in April by the Senate Caucus on International Narcotics Control. The best defense against those illicit financial networks? Big data.

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Article Real Time Mortgage
BANKING - REGULATORY COMPLIANCE

How banks are using high-performance analytics

SAS can help you build an analytic platform for CCAR and stress testing. And the good news is that you can use the models you’ve already built. We plug your models into our solution to give you the scalability – and functionality – you need.

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Using Social Media to tackle crime
PUBLIC SECURITY

Using social media to tackle crime

Social media channels were once seen as a quick and easy way to communicate. Today, they can be a powerful channel for active group psychology – powerful enough to overthrow governments. Law enforcement agencies can no long stand on the sidelines – but how do you sift the useful information from the mundane chatter?

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Article Reducing Pain
BANKING - REGULATORY COMPLIANCE

Reducing the CCAR pain

Theoretically, CCAR submissions can be developed and submitted using your existing risk and finance infrastructure. But there are some challenges to that approach. An analytic solution that is built to facilitate collaboration between risk and finance can produce some significant technical and business benefits.

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Seven questions you need to answer about your financial crime program
BANKING - CYBERSECURITY

Seven questions you need to answer about your financial crimes program

Jim Caldelmo says that banks need to apply analytics – the same powerful analytics platform used to track sales and marketing – to protect customers against financial crime. Caldelmo, Executive Director and Banking Secrecy Act Officer at Ally Financial, provides seven questions bankers should ask themselves to know if they have a solid financial crimes program.

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Data-driven crime fighting
GOVERNMENT - CYBERSECURITY

Data-driven crime fighting

Criminals are connected by a maze of networks. Unfortunately, law enforcement is not always so well connected. Data sharing could change the face of public and national security.

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article Risk 20 20 ,78467915 Magnifying glass over newspaper stock market figures
PUBLIC SECURITY

How intelligence agencies can reap the rewards of big data

The real 'value add' of applying high performance analytics to big data is that agencies don't need to know what they're looking for before they start. Instead, the analytical techniques will model the data and push information of interest back to users, drawing attention to relevant content.

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Article Jen Dunham
GOVERNMENT - CYBERSECURITY

Video Q&A: Jen Dunham on cybersecurity

Jen Dunham has a unique perspective on the challenges facing law enforcement and intelligence analysts. Dunham, a former intelligence analyst with the US Army, has held a TSSCI security clearance with numerous agencies supporting organizations such as FBI, DEA, NSA, CIA, NCTC, State Department, Department of Energy, and state and local law enforcement. In this video, she talks about today’s cybersecurity challenges and her ideas for addressing them.

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Article Big Data Take Off
INSURANCE - FRAUD

Fighting fraud in real time: 3 recommendations

When it comes to fraud investigation, historically the process has been anything but quick. James Ruotolo talks about the value of real-time insights for insurers and gives recommendations for when that speed is invaluable.

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Plugging Premium Leakage
INSURANCE - FRAUD

Using analytics to prevent underwriting fraud

Underwriting fraud is a growing trend in the insurance industry, spanning across all lines of business and customers – from individual policyholders to large global organizations. Read about three common types and their remedies.

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article risk Banking is ready Basel III?,78467915
BANKING - REGULATORY COMPLIANCE

Are US Banks ready for Basel III?

The newly released Basel III final rules for capital adequacy will pose a challenge for banks that aren't prepared. But banks that are prepared stand to gain real business benefits from these evolving regulations. So what constitutes being prepared? Tom Kimner, head of the Americas Risk Practice at SAS, weighs in on the three things you need.

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Mobile payment methods
BANKING - REGULATORY COMPLIANCE

Comply with FATCA now – but think to the future!

In 2010, US legislators estimated that the Treasury loses as much as $100 billion annually to offshore tax non-compliance. Their response was to pass the Foreign Account Tax Compliance Act (FATCA). And the US response may only be the beginning. How do you get a handle on the information you need to be compliant?

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Mobile payment methods
PUBLIC SECURITY

Technology is the key to helping prisons fulfill their duty of care

Across the world, prisons perform a similar function – as places where individuals who have committed crimes can be confined and their movements and freedoms restricted. Gordon Harrison, talks about the systems that contribute to and quickly gather information about prisoners so that you can fulfill a duty of care to them, the staff and the community.

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Mobile payment methods
BANKING - CYBERSECURITY

New payment methods fuel cyber-attacks

Mobile can fundamentally change the banking experience and strengthen customer-bank relationships. But those new payment methods are fueling a rush of cyber-attacks across the world.  Ellen Joyner provides best practices to ensure collaboration between law enforcement and financial institutions - a critical component to protecting consumers’ money.

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The Greatest health care fraud risks of 2014
HEALTH CARE FRAUD

The greatest health care fraud risks of 2014

As a result of PPACA, the US health care system has been injected with millions of new consumers of health care services. This means more health care revenue potential and some new areas for real concern to health payers. Julie Malida writes about the top five areas of concern health payers should be on the lookout for in 2014.

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78467915
ANTI-TERRORISM

Tackling the new terrorist threat

Ten years ago, authorities were focused on dealing with complex, organized conspiracies. Those threats still exist but now we are also dealing with a new kind of terrorism, where individuals or small isolated groups carry out attacks in isolation. Joanne Taylor asks, "How can we deal with this new kind of terrorism, where individuals or small isolated groups carry out attacks in isolation.

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article Risk 20 20 ,78467915 Magnifying glass over newspaper stock market figures
BANKING - FRAUD

A 20/20 vision of risk

Banks need a holistic view of their data in order to accurately detect risk. They also must overcome the challenges associated with poor data quality and the "noise" generated by existing control systems. Laura Hutton, Director of Banking and Solutions at SAS, explains how technologies can improve a bank's visibility into operational risk. 

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article risk Sparse Data,78467915
CAPITAL MARKETS - RISK

How to analyze hedge fund risk with sparse data

In the world of early-stage hedge funds, hedge fund managers are reluctant to share position-level data, because they don't want to reveal their strategies. That means that firms like Larch Lane Advisors must augment the limited data from these funds with information from hedge fund databases. And that's precisely why they chose SAS – for fast, reliable risk results from limited data.

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article risk cybersecurity,78467915
BANKING - CYBERSECURITY

Cybersecurity for the mobile world

Mobile is the fastest growing banking service, and the always-connected generation expects secure, on-the-go banking. But cybercriminals are also children of the digital age. And they are quick to find – and exploit – any weaknesses in these new technologies. Longitude Research conducted a survey to find out what cybersecurity challenges banks are facing.

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Ariticle Risk Capital
CAPITAL MARKETS - RISK

Supercharging capital markets with real-time data and visualization

By performing deeper analyses on data captured in-stream, and then injecting the results back into the business in real time, firms can better manage market risk, liquidity and counterparty credit risk during the trading day.

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SAS Voices

SAS Voices

Visit SAS Voices, where SAS employees lead conversations about notable people, products and ideas at SAS – and point you to the best content about SAS customers and business analytics.

http://www.allanalytics.com

All Analytics

Join the community for all things data management, business intelligence and analytics.

State and Local

State & Local Connection

While government is, by no means, the only industry fighting fraud, government agencies face unique challenges. Join in discussions about the many ways analytics is driving change.

Analytic Insurer

The Analytic Insurer

Explore customer, risk and fraud challenges specific to the insurance industry – and the advancements in analytics that are driving new conversations.


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