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Chartis Names SAS a Category Leader in AML Monitoring

In a significant accolade for data and AI innovator SAS, Chartis Research has once again designated the company as a leading provider in its AML (Anti-Money Laundering) Transaction Monitoring Solutions report for 2024. Following the previous year’s recognition, this marks SAS’s continued excellence in the realm of financial crime prevention. Alongside 36 other providers assessed by Chartis, SAS® Anti-Money Laundering achieved top-tier ratings for vendor capabilities, receiving the highest score possible in five critical areas.

Key Highlights of the Report

Chartis Research, respected for its analysis in the risk technology sector, awarded SAS a coveted five-star rating, acknowledging its position as a ‘best in class’ solution within the marketplace. Among the evaluated criteria, SAS notably excelled in:

• - Data and System Integrations
• - Modeling and Risk Typology
• - Speed and Volume Optimization
• - Platform and Case Management
• - Workflow Automation

Comprehensive Solution Capabilities

In the words of Nick Vitchev, Research Director at Chartis, SAS’s category leader status is a testimony to its holistic and high-performance solution that adeptly manages a wide array of complex use cases. The implementation of SAS Viya—a powerful analytics platform—allows for substantial flexibility and customization, enabling organizations to navigate the intricacies of transaction monitoring efficiently.

SAS's solution integrates third-party and proprietary data seamlessly, which boosts its operational efficiency. By leveraging deep data orchestration capabilities, it becomes easier for organizations to mitigate financial crime risks while minimizing false positives.

Enhanced Modeling and Risk Focus

One standout feature acknowledged by Chartis is SAS's impressive modeling and risk typology capacity, which simplifies the development of transaction monitoring programs for organizations. The comprehensive libraries provided by SAS equip users to address unique risk scenarios across various sectors effectively.

Advanced AI and Machine Learning Applications

Moreover, SAS's utilization of cutting-edge AI and machine learning technologies has been recognized for creating virtual assistants that enhance compliance processes. These tools bolster decision-making and workflow efficiency, optimizing organizational responses to emerging threats.

Chartis emphasized SAS's models-as-a-service approach, which not only improves data integrity but also enriches the overall efficacy of business processes. Their efficient implementation strategy ensures a swift transition, promoting scalability as organizations expand their capabilities in dealing with AML compliance.

Acknowledging a Dynamic AML Landscape

David Stewart, Director of Financial Crimes and Compliance at SAS, noted the rapid evolution of the AML landscape spurred by technological advancements and changing regulatory demands. The recognition received by SAS underscores the robust capabilities of its Anti-Money Laundering solutions, which are designed to adapt and respond to modern challenges in financial crime prevention.

In addition to this recognition, SAS encourages further exploration into how its AML solutions can provide sustainable and effective responses to money laundering threats in today’s complex financial environment.

Future Directions and Innovations

For those looking to learn more about strategies for modernizing AML efforts, SAS offers valuable insights through resources such as the white paper titled 'Next-Generation AML: 6 Tips to Modernize Your Fight Against Money Laundering'. This resource aims to guide organizations in adapting to the continuously evolving landscape of financial compliance.

In summary, SAS's reaffirmation as a category leader by Chartis Research not only reinforces its standing in the industry but also highlights its commitment to innovation and excellence in combating financial crimes effectively.

SAS continues to be a trailblazer in the space, driving better business performance through improved risk management and compliance capabilities.