SAS Tops Aite’s Matrix of AML Fraud and Machine Learning Platforms

  • Ease of implementation and integration. From novice to expert user, SAS® Financial Crimes Analytics “gives analytics team members of all skill levels a simple, powerful, and automated way to manage all tasks in the advanced analytics lifecycle,” the report states, adding that “ SAS’s adaptive learning capability enables customer data scientists or data analysts to create custom machine learning models themselves.”
  • Superior model performance. The SAS solution “enables large off-the-shelf machine learning applications as well as automated ML”, providing “robust model explainability and interpretability” while helping to ensure “high model performance through continuous model monitoring as well as identification when models require retraining.”
  • Excellent support and advisory services. “Customers are satisfied with the performance of the solution and the ease of integration with existing technology ecosystems,” the report concludes, noting use cases in the market covering “machine learning models for fraud. application and identity, payment fraud (such supporting functions as scoring for risk identification and mitigation), dynamic segmentation, scenario override, alert scoring for prioritization and hibernation.”

The Aite-Novarica Group is renowned for its extensive expertise in all sub-sectors of the financial services industry. Its proprietary vendor evaluation methodology includes an in-depth, product-focused RFI comprised of qualitative and quantitative questions, followed by a product briefing and demonstration and an independent evaluation of customer references. .

“SAS lives up to its strong reputation for fraud analytics and AI,” said Chuck Subrt, Director of the Fraud and AML Practice of the Aite-Novarica Group. “The SAS Financial Crimes Analytics solution is feature-rich and intuitive, with a roadmap that includes strong integration of robotic processing automation to increase efficiency and a cloud-native architecture that uses open source analytics and leverages the containers. More broadly, SAS’s vision is to create an enterprise intelligence platform that enables high-performance advanced analytics and delivers actionable insights throughout the customer journey. »

“A recent study of AML technology by ACAMS found that financial institutions are accelerating their adoption of advanced analytics to improve the quality of their investigations and regulatory filings and reduce operational costs through automation,” said declared David Stuart, Director of Financial Crimes and Compliance at SAS. “This recognition from the Aite-Novarica Group is gratifying, as it not only relates to SAS’s industry-leading analytics, but underscores that we have the expertise and experience in the area of ​​financial crimes to help clients scale and evolve according to their changing needs.

In a crowded and growing market, SAS is the only vendor analysts consider a leader in the areas of fraud and financial crime analysis, case management, decision making, data and data science. Learn more about SAS analyst recognition and its customers’ various online use cases for anti-money laundering and fraud analysis.

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