Aite-Novarica Group has named SAS the best-in-class vendor in its appraisal of the ultra-competitive fraud and anti-money laundering (AML) machine learning platform market
SAS has earned the foremost best-in-class title in Aite-Novarica Group’s Aite Matrix: Leading Fraud & AML Machine Learning Platforms. The AI and analytics leader achieved top b****** among 11 competing anti-fraud and financial crime technology vendors, setting the bar in the client strength (96%), vendor stability (95%) and product features (93%) components of the analysis.
Among SAS’ key strengths highlighted in the report:
- Ease of implementation and integration. From the novice to expert user, SAS® Financial Crimes Analytics “empowers analytics team members of all skill levels with a simple, powerful, and automated way to handle all tasks in the advanced analytics life cycle,” the report states, adding that “SAS’ adaptive learning capability enables clients’ data scientists or data analysts to build custom machine learning models themselves.”
- Superior model performance. The SAS solution “enables significant out-of-the-box machine learning applications as well as automated ML,” providing “robust model explainability and interpretability” while also helping ensure “high model performance by continuous model monitoring as well as identifying when models require retraining.”
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- Excellent support and advisory services. “Clients are pleased with solution performance and ease of integration with existing technology ecosystems,” the report concludes, noting in-market use cases spanning “machine learning models for application and identity fraud, payment fraud (these support functions such as scoring for risk identification and mitigation), dynamic segmentation, scenario replacement, alert scoring for prioritization, and hibernation.”
Aite-Novarica Group is renowned for its vast expertise across all subsectors of the financial services industry. Its proprietary vendor evaluation methodology includes an in-depth, product-focused request for information comprised of qualitative and quantitative questions, followed by a product briefing and demo and an independent assessment of client references.
“SAS lives up to its strong reputation for fraud analytics and AI,” said Chuck Subrt, Director of the Fraud and AML Practice at Aite-Novarica Group. “The SAS Financial Crimes Analytics solution is feature-rich and intuitive, with a roadmap that includes stronger integration of robotic processing automation to drive efficiency and a cloud-native architecture that consumes open-source analytics and leverages containers. More broadly, SAS’ vision is to create an enterprise decisioning platform that enables high-performing advanced analytics and delivers actionable insights across the full customer journey.”
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“A recent AML technology study by ACAMS revealed that financial institutions are accelerating their adoption of advanced analytics to boost the quality of their investigations and regulatory filings and reducing operational costs through automation,” said David Stewart, Director of Financial Crimes and Compliance at SAS. “This recognition from Aite-Novarica Group is rewarding, because it speaks not only to SAS’ industry-leading analytics but underscores that we have the financial crimes domain expertise and experience to help clients scale and evolve to their changing needs.”
In a crowded and growing market, SAS is the only vendor analysts consider a leader across fraud and financial crimes analytics, case management, decisioning, data management and data science. Learn more about SAS’ analyst recognition and its customers’ diverse AML and fraud analytics use cases online.
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