Banking industry sales for SAS continue to rise in 2011
SAS' largest industry revenue segment investing in analytics for customer intelligence, data, fraud and risk management
CARY, NC (Nov. 14, 2011) – Banks continue to address numerous business needs including better customer service, mitigating risk and fraud, organizing massive amounts of data and complying with ever-changing governmental regulations while staying reputable. SAS, the leader in business analytics software and services, has continued to help banks with these issues, evidenced by new sales growth of 26 percent in the global banking industry compared to the same period in 2010.
Organizations that have selected or further invested in SAS this year include: Alliance Data Systems (US), Associated Bank (US), Banco Bradesco (Brazil), Banco de Portugal (Portugal), Banco Itaú (Brazil), Banco Santander Río (Argentina), Banca Sella (Italy), Banco Supervielle (Argentina), China Guangfa Bank (China), Coastal Federal Credit Union (US), CRIF (US), De Nederlandsche Bank (Netherlands), ING DiBa (Germany), ING Direct (Italy), IWBank (Italy), KeyBank (US), Malaysia Building Society Berhad (Malaysia), PNC Financial Services Group (US), PREMIER Bankcard (US), SEC Servizi (Italy), Union Bank (US), US Bancorp (US), Visa (US) and VTB Bank (Russia).
"New banking sales have been strong across all regions, with both EMEA and the United States growing in excess of 20 percent," said David M. Wallace, Global Financial Services Marketing Manager with SAS. "Sales growth has been fueled by using analytics for customer intelligence, data management, combating fraud and mitigating risk."Fraud continues to increase. The recently issued FFIEC authentication guidance supplement highlights the increased vigilance that banks must undertake to mitigate online risks and protect against fraud. Chartis Research estimates that financial crime IT spending will grow to $4.3 billion by 2013. Analytics is key for banks to better combat fraud. SAS fraud solutions revenue in financial services alone is up 147 percent from last year.
Recently, Chartis Research named SAS a leader in Financial Crime Risk Management 2011 . The SAS® Enterprise Financial Crimes Framework for Banking provides a technology infrastructure for preventing, detecting and managing financial crimes across lines of business within today's banks, including anti-money laundering, card fraud, organized fraud rings, and ACH/peer-to-peer and wire fraud.
Increased regulatory requirements including Basel III and the Dodd-Frank Act are requiring banks to overcome the challenges of data integration and data quality to improve risk management and analysis of lending decisions. SAS Risk Management for Banking supports a bank's risk management activities by delivering functionality for all major risk types, as well as data management and reporting. Chartis noted SAS as a leader in October in both its risk reports – Liquidity Risk Management Systems 2011 and Operational Risk & GRC Software Solutions 2011.
The financial services industry represents the largest industry segment that selects SAS for customer analytics with new banking sales currently more than 150 percent compared to last year. The challenging economic environment is driving banks to improve customer service by more precisely assessing their needs at the point of each and every interaction. SAS Customer Analytics for Banking turns raw data into insight that banks can use to manage marketing strategy intelligently and increase customer retention. The integrated software infrastructure enables business users to analyze complex customer behavior hidden in large volumes of historical data.
Celebrating 35 years as an analytic innovator, SAS works closely with top financial institutions to provide timely solutions that address critical business needs. In the financial services industry alone, SAS solutions for data management, fraud detection, risk management, regulatory compliance, customer intelligence and other software are used by more than 3,200 financial institutions worldwide. SAS' industry expertise is evidenced by long-term customer relationships including several banks that make the list as SAS' first customers. Furthermore, financial services is SAS' largest industry segment by revenue, contributing 42 percent of the total company software revenue of $2.43 billion in 2010.
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 50,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world
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