David Stewart, Director of the Banking Security Intelligence Practice at SAS, explains how SAS helps organizations modernize their AML operations by going beyond regulatory requirements to actively reduce exposures and improve operations with solutions for validation and financial intelligence.
Rapidly increasing risk – combined with evolving government regulations – requires an advanced strategy when it comes to monitoring data for illicit activity. SAS helps you take a risk-based approach, making it easier to manage alerts, test scenarios and comply with industry regulations.
Get quick, accurate alerts.
Know almost instantly if suspicious activity is happening. SAS segmentation strategies can identify patterns based on an entity's history or its peers – an approach proven to increase SAR conversion rates. And because you can manage alerts from a centralized system, it's easier to preserve data security, minimize IT support costs and promote collaboration across the enterprise.
Easily track flow of funds.
With our funds tracking capability, it's easy to visualize the flow of funds between the focal entity and other entities of interest. The Sankey diagram used to track the flow of funds helps you see debits and credits, as well as variation in volume of funds between entities.
Be transparent. And compliant.
With anti-money laundering and counterterrorist financing regulations affecting the industry, not only must you file timely and accurate SARs, but you also must be able to show regulators and auditors how you analyze and prioritize risks. With our technology, you can automatically monitor suspicious behavior, document the decision process and, if applicable, file pre-populated reports with the appropriate authorities.
Find the best scenario and take the best action.
SAS high-performance visualization tools significantly reduce the time required to analyze data, visualize patterns, hypothesize monitoring strategies and validate scenario deployments. With SAS Visual Scenario Designer, you can simulate and validate scenarios until you find – and implement – the right one. The end result? Better decisions, faster.
Instantly access the information you need.
In an industry that moves fast, you don't need complicated user interfaces slowing you down. SAS Anti-Money Laundering technology has an interface that's designed to facilitate quick, accurate decisions – which means all the information you need is one or two clicks away.
- Data management. Ability to address many data challenges, from processing big data to accessing and integrating legacy sources – all in a single platform.
- High-performance analytics and visualization. Rapid time to insights from big data with an infrastructure enabling you to test hypotheses, ask questions and simulate scenarios.
- Suspicious activity monitoring and reporting. A robust, flexible scenario engine that detects suspicious activity and generates alerts for events that meet rule parameters.
- Watch-list matching. Fuzzy-matching algorithms, intelligent scoring and alert consolidation can identify persons, organizations or high-risk jurisdictions that represent regulatory risk.
- Investigation and alert management. A web-based interface gives investigators a holistic view of work items and easy access to the knowledge center database.
- Peer-group anomaly detection. In-memory analytics provides fast peer-group anomaly detection by comparing an entity's behavior to historical and peer behavior.
- Search. Reliable, scalable and fault-tolerant search capabilities provide distributed indexing, replication and load-balanced querying, automated failover and recovery, and more.
- Multitenant. Enhanced architecture enabling a single installation to serve multiple customers by segregating the data.
Discover how analytics makes transaction monitoring more efficient and effective.