Chartis Research names SAS® as a RiskTech Quadrant® category leader for enterprise fraud technology solutions
SAS is named a category leader in enterprise fraud tech and a category leader in the RiskTech Quadrants® for watchlist monitoring and anti-money laundering solutions
Chartis Research has identified SAS as a RiskTech Quadrant category leader for enterprise fraud technology solutions. The risk and compliance technology-focused research and advisory firm also recognises SAS as a category leader in anti-money laundering solutions and watchlist monitoring solutions.
The RiskTech Quadrants® are part of Chartis Research's report Financial Crime Risk Management Systems: Market Update 2017. This year's research notes two key trends moulding financial institutions' approach to financial crime risk management: an increase in regulatory reports (particularly suspicious activity reports) and the growing complexity of relationships involving correspondent banking, ultimate beneficial owners, and open application programming interface banking.
"Ever-more sophisticated digital financial schemes and constantly shifting regulatory pressures pose a threat to financial institutions, which face not only crime-related losses but reputational damage and steep fines from regulators and law enforcement agencies," said Sidhartha Dash, Research Director at Chartis Research. "In addressing these new challenges, SAS has domain and advanced analytics expertise, and provides a cross-channel enterprise view of information. It has also invested in industry and fraud prevention technology and its enterprise approach to security intelligence."
"Whilst financial institutions continue to enhance their protection against fraud risks and crime, the threat of such activities continues to advance," said Colin Bristow, Fraud and Anti-Money Laundering Specialist, SAS UK & Ireland. "SAS applies a hybrid approach to fraud detection, supporting adaptation to counter the ever changing threat lanscape. Through the application of multiple advanced and powerful analytical techniques, SAS uncovers the suspicious activities that hide in the data. These techniques can also be exploited in real-time, allowing companies to be reactive, compliant and protect their business and customers."
As in past years, Chartis Research's 2017 report uses in-depth independent research and a clear scoring system to analyse technology solutions in the RiskTech, FinTech and RegTech markets. Leading vendors were ranked based on their completeness of offering and market potential, based on detailed briefings and research and analysis by Chartis Research's subject-matter experts.
Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and Waters Technology. Chartis's goal is to support enterprises as they drive business performance through improved 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. The RiskTech Quadrant® uses a comprehensive methodology of in-depth independent research and a clear scoring system to explain which technology solutions meet an organisation's needs. The RiskTech Quadrant® has a sophisticated ranking methodology to explain which solutions would be best for buyers, depending on their implementation strategies. RiskTech Quadrant®, RiskTech100® and FinTech Quadrant™ are registered trademarks of Chartis Research. www.chartis-research.com
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