Handelsbanken selects SAS to fight global financial crime

The Swedish bank will use SAS solutions to help detect and prevent financial crime and terrorist financing

Svenska Handelsbanken, a major Swedish bank, has teamed with analytics leader SAS to implement a global platform to help synchronize and align Handelsbanken’s processes for combating financial crime, money laundering and terrorist financing.

"Financial crime is rapidly increasing in complexity due to digital transformation and globalization. Increased numbers of cross-border transactions not only demand automation, but also intelligence-driven capabilities to identify behavioral anomalies across many disparate data sources,” said Stu Bradley, Vice President of Fraud and Security Intelligence at SAS. “Analytics are at the core of SAS’ financial crime capabilities and foundational to successfully combating financial crime."

Given the exponential rise in financial crime, it is critical that financial firms advance their employees’ capabilities – not only to identify and investigate suspicious alerts, but to identify, adapt and develop new tactics to counter criminal networks’ shifting schemes. Rapid deployment, from development to production supporting and optimizing cross-departmental processes and functions, is also paramount to meet future challenges.

"Global financial crime is changing rapidly,” said Marie-Louise Dunberg, Head of Development for Financial Crime at Handelsbanken. “To avoid being used for criminal activity, Handelsbanken requires a solution that combines a stable, flexible platform with advanced financial crime analytics, AI and other modern technologies. We have put a lot of effort into finding a global partner with which we can develop strategically over time."

Handelbanken’s goal is a common architecture to support global processes for transaction monitoring, customer screening, customer due diligence, risk classification, transaction screening, investigations, reporting, and financial crime analytics.

"We are honored to be chosen as the strategic partner by Handelsbanken and welcome our joint future work combating the increasing societal threat that financial crime represents,” said Ola Ringström, Managing Director at SAS Sweden. “That SAS technology and knowledge will help safeguard Handelsbanken, their customers and society at large are of utmost importance to us." 

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