Chartis names SAS a leader in its Enterprise Stress Testing Systems: Market Update 2017
Chartis has recognised SAS® software’s “completeness of offering” and “market potential” in naming the esteemed analytics provider a category leader in its Enterprise Stress Testing Systems: Market Update 2017.
Driven primarily by regulators – including the US Federal Reserve, European Banking Authority (EBA) and Bank of England – stress testing is considered a very important tool to help assess whether institutions have sufficient capital to absorb losses and support operations during adverse economic conditions. SAS deploys high-performance risk analytics alongside workflow, governance and reporting capabilities to meet stress-testing needs of banks. SAS provides software, advisory services and supplemental data for models, in support of DFAST, CCAR and EBA regulations to provide efficient and transparent processes.
“Regulations aside, stress testing is key to the success and profitability of all aspects of a financial institution’s operations,” said Hugh Stewart, Research Director at Chartis. “But the process is still fragmented for many banks. Institutions are in need of an integrated solution that meets their stress testing needs both internally and for regulators. SAS meets data management needs and easily merges with existing systems to deliver coordinated, systematic support.”
According to Chartis, financial institutions must overcome four broad challenges when implementing stress testing: governance, recruitment, data and modeling. SAS’ integrated stress testing capabilities provide flexibility and allow for rapid set-up and deployment of complex models on a single, comprehensive platform. SAS Stress Testing provides solutions for every aspect of stress testing to support transparency across the process.
“Stress testing is becoming more complicated and so financial institutions must ensure they have an agile, high performance technological environment in place,” said Lee Thorpe, Head of Risk Business Solutions at SAS UK & Ireland. “Rather than constructing what’s needed for regulators from disparate silos, they require a technology solution that brings these data sources and models together. The benefit of this top-down, integrated approach is that it will allow banks to remain flexible to changing risk policies and regulations, with more time to track model issues, challenge results and iteratively enhance the end-to-end process across the business.”
Last month Chartis also named SAS a category leader in Model Risk Governance Solutions 2017 RiskTech Quadrant®. In 2016, SAS clinched the No.2 spot in Chartis’ prestigious RiskTech100® report annual rankings, including top category wins for innovation, banking, credit risk and Europe.
Chartis is the leading provider of research and analysis on the global market for risk technology and is part of Incisive Media which has market leading brands such as Risk and Waters Technology. Chartis' goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.
RiskTech Quadrant®, RiskTech100® and FinTech QuadrantTM are registered trademarks of Chartis Research.
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