Chartis ranks SAS the winner in RiskTech100® innovation category
SAS also secures top spots in credit risk, banking and Europe categories
For the ninth time since 2006, SAS is among the top three in Chartis’ prestigious RiskTech100® report annual rankings. This year, analytics leader SAS holds the No. 2 spot overall, nabbing top category wins for innovation, banking, credit risk and Europe.
“SAS again showed the ability to adapt to the changing risk management needs of the market with strong support of their existing analytics and data management solutions plus several new offerings in 2015,” said Peyman Mestchian, Managing Partner at Chartis. “Investment and focus on products targeted for stress testing, model risk management and financial crime shows a persistent drive toward helping financial institutions address the challenges of the shifting regulatory landscape.”
SAS is well positioned globally to help banks address the latest regulatory requirements such as stress testing, Basel III, BCBS 239 and IFRS 9. Banks need to see the challenge to comply with these regulations not in isolation, but with an enterprisewide approach incorporating model build, model governance, data management plus impairment estimation, forecasting and reporting. In 2015, new SAS® solutions bolstered the company’s key focus areas such as stress testing and model governance, solidifying its leadership in innovation and banking, including:
- SAS Model Implementation Platform speeds modeling execution while providing a linked inventory of risk models. It uses the SAS High‐Performance Risk engine, which delivers fast and efficient integration of a wide range of risk models.
- SAS Stress Testing Workbench allows analysts to review and execute models, aggregate results, integrate other data sources and apply business, regulatory and accounting rules to financial statements enterprisewide.
- SAS Model Risk Management, a model-governance solution, provides a detailed view of all models so banks can precisely monitor and manage associated model risks and related findings.
Alongside helping banks to respond to the myriad of regulatory challenges, SAS continues to support banks’ lending businesses by evolving its credit risk management portfolio to cover the entire credit life cycle from credit decisioning through credit portfolio analysis, capital estimation, credit collection and recovery.
In addition to banks, SAS keeps a keen eye on the needs of insurers. European insurers in particular are honing in on the new regulations of Solvency II that took effect on Jan. 1, 2016. SAS continues to develop its Solvency offerings, which help insurance companies implement the Solvency standard and internal model approach for calculating risk-based capital. The solution facilitates regulatory reporting and can also cover ORSA, economic capital models, scenario simulation, asset and liability valuation, reserving and pricing.
“Keeping up with heightened regulatory expectations shouldn’t distract companies from advancing risk management to manage the business,” said Troy Haines, Senior Vice President and Head of Risk Research and Quantitative Solutions at SAS. “SAS risk solutions get to the heart of what bank and non-bank financial services firms need: state-of the-art analytics that solve both regulatory and non-regulatory business problems.”
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® and RiskTech100® are registered trademarks of Chartis Research (www.chartis-research.com).
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