Chartis: SAS a category leader in enterprise fraud technology
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Robust data orchestration and advanced analytics capabilities underpinned by a single underlying platform distinguish SAS' anti-fraud offering
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CARY, N.C., April 19, 2021 /PRNewswire/ -- In the latest chapter of SAS' decades-long narrative of innovation in financial services, Chartis has named the analytics and artificial intelligence (AI) giant a RiskTech Quadrant® Category Leader in enterprise fraud solutions. SAS is the marketplace's most consistent leader, maintaining its position as a Category Leader in enterprise fraud management since the quadrant debuted in 2013.
"The industry flocked to new technologies amid the COVID-19 pandemic, particularly in e-payments and mobile banking, triggering a wave of digital fraud many were unprepared to combat," said Phil Mackenzie, Senior Research Specialist at Chartis. "Against this backdrop, flexibility and agility have been important to SAS' solution – and several other key functions, including simplified data management and real-time transaction scoring, can help financial firms achieve enterprise-wide monitoring on one platform."
The Vendor Analysis report is based on Chartis' quadrant report, Financial Crime Risk Management Systems: Enterprise Fraud; Market Update and Vendor Landscape, 2021, published in February. That report evaluated the completeness and market potential of 20 top RiskTech and FinTech vendors' enterprise fraud management offerings. Among other categories, SAS earned high ratings in:
- Advanced/proprietary fraud detection techniques.
- Real-time transaction monitoring.
- Behavioral monitoring.
- Card fraud.
- Mobile fraud.
- Electronic payments fraud.
- Libraries of prepackaged fraud rules.
The Vendor Analysis notes that SAS® Fraud Management "simplifies data integration, enabling users to combine all internal, external and third-party data, and is built to offer better predictive models tuned to organizations' needs through optimized ML. By bringing together this functionality on a single technology platform, the solution gives users the flexibility to scale up or out as their business changes, and to respond faster to new threats as they arise."
Also, according to the Vendor Analysis, "SAS delivers the architecture that is most appropriate for the type of fraud an organization is tackling – real-time payments, for example, and/or card fraud, application fraud and deposit monitoring. Each of these use cases requires a different approach to integration, data requirements, analytics, rules, and alert and case management. However, the underlying platform remains consistent in all instances."
SAS has also earned analyst recognition for banking technology for anti-money laundering, model risk governance, credit risk 2.0, real-time interaction management and more.
"SAS' longevity as an enterprise fraud Category Leader speaks volumes to how SAS continually advances to meet the market's – and our customers' – evolving needs," said Stu Bradley, Vice President of Fraud and Security Intelligence at SAS. "However the fraud landscape may change, SAS solutions offer the capabilities and agility for financial institutions to quickly identify emerging threats and adapt their anti-fraud technology. This helps them protect their operations, reputations and bottom lines, while also enhancing their customer experience."
About Chartis ResearchChartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. Chartis' goal is to support enterprises as they drive business performance through improved 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.
About SASSAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.
SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2021 SAS Institute Inc. All rights reserved.
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