SAS® anti-fraud software called "best-kept secret"
Research applauds SAS for superior analytics, custom projects for clients
“SAS is one of the best-kept secrets among enterprise fraud solution providers,” says Aite Group’s recent report, Enterprise Fraud Management: Still Evolving After All These Years. But word is clearly getting out – the research firm highlighted fraud and security intelligence as the fastest area of growth for SAS. The report also complimented SAS for its superior analytics and the ability to meet unique customer needs with custom projects.
“Advanced analytics is indispensable in fighting fraud,” said Shirley Inscoe, Senior Analyst with Aite Group. “As fraud becomes more sophisticated and schemes more complex, simple rules are not adequate to protect the financial institution or its customers.”
Recommending that financial institutions select a provider that can integrate into existing fraud prevention systems, as opposed to replacing existing tools, Aite Group adds that “many point solutions provide valuable insights needed to obtain a complete customer view.”
SAS, says Aite Group, has “developed many fraud modules and has a strong case management system that helps integrate all the data needed.” A comprehensive holistic customer view – as offered by SAS – is gained through analysis of customers, their relationships and correlating their transactional behavior to their account activity. This reduces false positives, resulting in a better customer experience.
“(A) centralized enterprise fraud management solution improves customer service through a single point of contact for the victimized customer” the report continues, because “the customer does not have to contact multiple departments.” Centralization also improves operational efficiency. Additionally, solution providers who offer a full view of customers and their activity through robust case management tools will detect fraud more effectively and reduce false positives to a manageable and more cost-effective level.
The report pointed at SAS’ particular strength to take “learned intellectual property from live deployments and incorporating those capabilities into the out-of-the-box SAS solution.”
“After almost 20 years in the industry, the results I’ve seen from SAS advanced analytics to reduce false positives have yet to be matched,” said Cameron Jones, Security Intelligence Director at SAS. "With advanced analytics, our clients have prevented revenue losses more efficiently from increased alert accuracy."
With a common analytics platform and module-based solutions for enterprise fraud and financial crime, SAS efficiently uncovers suspicious financial activity, provides a complete view of threats across the entire institution, and streamlines the investigation process.
Read the highlights from Enterprise Fraud Management: Still Evolving After All These Years.
ABOUT Aite Group
Aite Group partners with participants in the international financial services marketplace, leveraging our analysts' industry experience to challenge, to advise and to catalyze growth through independent market research and timely consulting. Attuned to the needs and strengths of our clients, Aite Group builds bridges, brokers insight, and offers actionable advice that companies rely on to build their relationships and grow their businesses. www.aitegroup.com
SAS Institute är världens största privatägda mjukvaruföretag med lösningar för avancerad analys. SAS Institute har sedan 1976 erfarenhet av att utveckla lösningar och metoder som låter företag och organisationer lära av sin historia, mäta och kommunicera pågående aktiviteter och skapa insikt om framtiden. Världen runt har SAS Institute totalt 50 000 kundinstallationer, bland annat i 92 procent av Fortune 500-företagen. I Sverige startade SAS Institute AB år 1986 och har idag 150 anställda på kontoret i Stockholm. Bland de svenska kunderna finns landets mest betydande företag och organisationer. För mer information besök: www.sas.com/sweden