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Sovereign Bank combats money laundering with SAS®SAS® Anti-Money Laundering provides superior detection, preventionCARY, N.C. (Feb. 01, 2005) – Sovereign Bank announced it has chosen SAS Anti-Money Laundering software as an additional component to its anti-money laundering program. SAS Anti-Money Laundering will be used by Sovereign to automate the review of transaction activity. Sovereign recognized that SAS’ customer list included one of the world’s largest financial institutions that selected SAS to power its anti-money laundering program. “With more than a quarter-century of serving the financial services industry, SAS is proud to build upon our relationships with industry leaders like Sovereign and offer technologies to address their specific business needs,” said Dr. Jim Goodnight, CEO of SAS. “The strength of SAS analytics and data management technology – at the core of all our solutions – sets a solid foundation for financial institutions to partner and grow with SAS.” SAS Anti-Money Laundering provides an enterprisewide solution, tracking transactions across all products, channels and lines of business to ensure a comprehensive view of each customer. SAS also offers a hosted solution with all SAS-owned technology instead of a variety of vendor components. In addition, SAS provides a consortium for its anti-money laundering customers, enabling them as a community to share best practices and knowledge. Within the software industry, SAS, the leader in business intelligence, is known for its steadfast reputation, financial stability and commitment to its customers, as demonstrated by its high investment in research and development. About Sovereign Bancorp, Inc.Sovereign Bancorp, Inc. ("Sovereign") (NYSE: SOV) is the parent company of Sovereign Bank, a $60 billion pro forma financial institution with more than 600 community banking offices, 1,350 ATMs and approximately 9,500 team members in Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. In addition to full-service retail banking, Sovereign offers a broad array of financial services and products including business and corporate banking, cash management, capital markets, trust and wealth management and insurance. Pro forma for pending acquisitions, Sovereign is the 18th-largest banking institution in the United States. For more information on Sovereign Bank, visit www.sovereignbank.com or call 1-877-SOV-BANK.
SAS is the market leader in providing a new generation of business intelligence software and services that create true enterprise intelligence. SAS solutions are used at 40,000 sites – including 96 of the top 100 companies on the FORTUNE Global 500® – to develop more profitable relationships with customers and suppliers; to enable better, more accurate and informed decisions; and to drive organizations forward. SAS is the only vendor that completely integrates leading data warehousing, analytics and traditional BI applications to create intelligence from massive amounts of data. For nearly three decades, SAS has been giving customers around the world
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