View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Cybersecurity
December 4, 2012

SAS creates R&D division to develop fraud and compliance applications

The company has created the new SAS R&D Fraud and Compliance Solutions Division

By CBR Staff Writer

Business analytics firm SAS has created a R&D division to create applications to detect fraud and ensure compliance.

The company has created the new SAS R&D Fraud and Compliance Solutions Division to address the need for enterprises to detect multichannel fraud and regulatory non-compliance.

SAS will enhance the capability of existing products and create new application by adding the power and speed of SAS in-memory, streaming and distributed computing technologies.

In addition, the company is also planning to expand applications to help other industries such as utilities and telecommunications with fraud, compliance, and security challenges.

The company will release first of such products called SAS High-Performance Anti-Money Laundering in 2013, which claimed to provide scenario tuning using SAS Visual Analytics.

The application claimed to reduce the running of what-if scenarios from hours to seconds allowing enterprises find out and address themost critical risks.

The application consolidates multiple SAS foundational technologies for detecting, preventing and managing fraud and compliance including high-performance analytics for fighting money laundering and terrorist financing.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

In addition to updating SAS Anti-Money Laundering, SAS Enterprise Case Management and SAS Fraud Framework for Insurance in 2012, SAS has also introduced the SAS Financial Crimes Suite.

The company has also expanded its portfolio for financial services to address fraud and financial crimes.

SAS Fraud Framework for Health Care employs rules, anomaly detection models, predictive models, text mining and network analysis to spot fraud schemes, dig deeper and illuminate relationships among fraudsters.

SAS Health Care Fraud principal Julie Malida said: "The SAS Fraud Framework for Health Care uses text analytics to bring medical records, free-form claims text, call-center logs and customer service records into the analysis. Because much valuable health care information lives in unstructured text, SAS can help plans like no other software."

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.