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SAS is a Leader in The Forrester Wave: Anti-Money Laundering Solutions, Q3 2019

AI and machine learning are helping to redefine anti-money laundering for some of the world's top global banking organizations.

Analytics giant SAS is named a Leader in The Forrester Wave™: Anti-Money Laundering Solutions, Q3 2019. In its inaugural evaluation of anti-money laundering (AML) technology, Forrester Research calls SAS® Anti-Money Laundering “one of the most scalable” solutions on the market with “powerful ... data integration and federation capabilities.”

Given shifting regulations, evolving threats, and immense and growing volumes of diverse data, using AI and machine learning to rapidly detect and report suspicious activity is fast becoming an AML imperative. According to the Forrester Wave report, SAS software’s “supervised and unsupervised machine learning based model development is very intuitive and visual and offers many types of configurable algorithms out of the box.”

 

“SAS helps financial institutions transform and modernize their anti-money laundering programs with industry-leading AI and machine learning,” said Stu Bradley, Vice President of Fraud and Security Intelligence at SAS. “This allows them to automate repetitive manual tasks and reduce false positives by up to 50% to 70% – all without a requisite army of data scientists. One US bank replaced 10 cash activity scenarios from its transaction monitoring system with a SAS neural network model and tripled its SAR conversion rates, while also cutting monthly work items by half.”

Forrester Research evaluated eight AML solution providers against 32 criteria. SAS was noted as “ideal for large enterprises with robust SAS and data science skill sets,” earning the highest possible score in the criteria of risk scoring and altering, case management, reporting and scalability in transaction volume. In its assessment of SAS, Forrester added, “Reports are configurable and versatile. Queue definitions are flexible in case management.”

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SAS' “supervised and unsupervised machine learning based model development is very intuitive and visual and offers many types of configurable algorithms out of the box.”

The Forrester Wave: Anti-Money Laundering Solutions, Q3 2019

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