Banks can now increase efficiency while improving investigations and SAR quality, brandishing the latest version of SAS Anti-Money Laundering to better manage suspicious financial activity. Enhancements from the business analytics software and services vendor to its AML offering now include predictive analytics, an enriched regulatory reporting console, and additional risk-based scoring techniques.

More specifically, SAS Anti-Money Laundering has a unique predictive analytics improving alert quality while minimizing false positives, leading to a more effective and meaningful investigation. This helps escalate alerts to investigation more accurately, so investigators can focus on the most egregious risks, while reducing costs associated with model governance.

The updated regulatory reporting console in SAS Anti-Money Laundering supports multiple forms and languages, and interacts with new electronic filing systems being adopted by global financial intelligence units. An improved user interface speeds investigations by displaying all relevant customer information based on user roles, rights and privileges, to display key performance indicators of the most recent trends.

Banks can harness risk-based scoring during the onboarding process with new features in SAS Anti-Money Laundering. The risk classification process regularly assesses a customer's risk profile in a single data pass, based upon transactional behavior or association with high-risk attributes. That means institutions can monitor high-risk peer groups uniquely. End users can modify or create unlimited scenarios through a point-and-click interface, monitoring more risks and behaviors while bypassing trusted accounts and parties posing no threat. 

SAS Anti-Money Laundering is part of SAS Enterprise Financial Crimes for Banking.

Keep yourself updated on latest news and articles from the BFSI segment

Subscribe to our Newsletter Become a fan on Facebook

Follow us on Twitter Subscribe to our RSS Feed