The most complete financial crime detection system to date
Laurentian Bank acquires SAS® Enterprise Case Management
Laurentian Bank of Canada is a banking institution with operations across the country. Founded in 1846, it manages more than $24 billion in balance sheet assets and currently employs more than 3,800 people. The bank serves individuals and small and midsized businesses. It also offers its products to a vast network of independent financial intermediaries through B2B Trust and provides full-service brokerage services through Laurentian Bank Securities. Laurentian Bank is firmly established in Quebec, where it operates the third-largest retail branch network in the province.
Laurentian Bank has been experiencing major growth in the past several years. Its loan and deposit volumes have increased significantly, and its net income has been breaking new records for the past four years. "Our competitors know us for our flexibility and our agility, qualities that let us react quickly and allow us to, among other things, efficiently implement new processes to fight financial crime, thereby securing our constantly growing operations," said René Trépanier, Vice President of Compliance, Operational Security.
A unified system for managing the rising number of fraud cases
"We have a number of tools and databases in place for detecting financial crime. However, these systems are not always compatible, and we lose precious time unifying this data in order to draw the best conclusions," said Trépanier.
SAS Enterprise Case Management provides a structured and unified environment for managing investigations, in which users can add comments, attach documents (including digital media) and save financial information. This solution also lets users create detailed tables for a better overall understanding of the situation and greater analytical capacity. These factors help investigators and managers simplify and greatly speed up their work.
Laurentian Bank is already using SAS in other areas of activity, mainly for its credit risk and market segmentation operations. “We have developed business ties with SAS and have a great respect for their competence, meaning that we are going into this implementation project with confidence,” said Trépanier.
Toward an integrated system for fighting financial crime
Copyright © SAS Institute Inc. All Rights Reserved.
Vice President of Compliance
Efficiently implement new processes to fight financial crime, increasing security for the bank's operations.
“Our goal in implementing this system is to quickly obtain an overview of our various business lines so as to better recognize and identify fraudsters.”
Vice President, Compliance, Operational Security