Press Release
Printer-Friendly
News |
Sovereign Bank combats money laundering with SAS®SAS® Anti-Money Laundering provides superior detection, prevention01 February 2005 - Sovereign Bank announced it has chosen SAS Anti-Money Laundering software as an additional component to its anti-money laundering programme. SAS Anti-Money Laundering will be used by Sovereign to automate the review of transaction activity. Sovereign recognised 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 enterprise-wide 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.comor call 1-877-SOV-BANK.
SAS is the leader in business intelligence software and services. Customers at 40,000 sites use SAS software to improve performance through insight into vast amounts of data, resulting in faster, more accurate business decisions; more profitable relationships with customers and suppliers; compliance with governmental regulations; research breakthroughs; and better products. Only SAS offers leading data integration, intelligence storage, advanced analytics and business intelligence applications within a comprehensive enterprise intelligence platform. Since 1976, SAS has been giving customers around the world
The Power to Know®
.
|
Editorial Contacts:
|