Chartis Names SAS A Leader In Enterprise And Payment Fraud Solutions


(MENAFN- PR Newswire) Report gives high marks for prevention, detection and monitoring; gives SAS top rating available for the 11th time

CARY, N.C., Oct. 1, 2024 /PRNewswire/ -- Chartis Research has rated SAS a category leader in its Enterprise and Payment Fraud Solutions , 2024: market Update and Vendor Landscape . This marks the 11th consecutive edition of the analyst firm's enterprise fraud report that branded SAS as a category leader – the top designation on Chartis' scale.

Continue Reading

It's the 11th straight time Chartis has named SAS a category leader in enterprise #fraud – the top rating on its scale.

Post this
Chartis Names SAS A Leader In Enterprise And Payment Fraud Solutions Image

Chartis Research named SAS a category leader in its Enterprise and Payment Fraud Solutions, 2024 report - the top designation on Chartis' scale.

Among the solutions of 26 providers evaluated by Chartis, SAS® Fraud Decisioning earned the top overall score for Completeness of Offering in payment fraud solutions. In the payment rails scoring, SAS stood alone as the only vendor to receive a 5-star rating on every measure, signifying "best-in-class capabilities." Additionally, SAS equaled the highest set of ratings for core technology in payment fraud solutions, earning 5-star ratings for fraud typologies; speed, volume and performance; and fraud and analytical models.

Chartis also gave SAS high marks in the enterprise fraud solutions categories, rating it as either "best-in-class" or "industry-leading" for every capability it evaluated.

"SAS' longtime category leader status reflects its AI acumen and deep expertise and focus across the fraud and financial crimes life cycle," said Nick Vitchev, Director at Chartis Research. "Its ability to scale and configure across the full fraud cycle stems from the power of its enterprise platform. SAS enables multilayered, real-time detection that's extremely effective at flagging genuine fraud while reducing false positives, even among notoriously difficult to detect typologies like APP fraud and money muling."

Leading the pack with 'end-to-end prevention, detection and investigation'
In its Vendor Analysis, Chartis found that SAS delivers "capabilities across all the components required for the end-to-end prevention, detection and investigation of fraud." Chartis identified several areas in which SAS shines with "vendor leading practices":

  • End-to-end solutions across the financial crimes spectrum.
    "SAS has reinvested more than a billion dollars in R&D to rearchitect its ... solutions on a common cloud-native decisioning platform," including fraud
    and financial crimes solutions, Chartis noted, resulting in a system that supports anti-money laundering (AML), customer due diligence, sanctions, identity and verification, payment fraud monitoring and non-transactional fraud detection.
  • Data orchestration of digital signals for inclusion in
    SAS' patented signatures.

    This capability "allows firms to integrate geolocation, device intelligence and biometric data to monitor digital payments, uncover synthetic identities and improve value detection rates."
  • Design-time user interfaces support the deployment of
    SAS and open-source models through a model pipeline user interface. "
    The low-code/no-code interface empowers data scientists to challenge multiple modeling techniques supported by AI-generated documentation and model scorecards," Chartis wrote.
  • A guided rules analysis interface, enabling
    intraday adjustments to alert handling, routing and queueing processes.

    "The system also supports estimation or impact analysis to predict the operational impact of changes in strategies," Chartis reported.
  • Domain expertise of industry practitioners.
    "SAS routinely conducts periodic 'health checks' with customers to share trends and best practices," Chartis said. That expertise, they said, "differentiates the customer experience" for SAS clients.

Chartis highlighted SAS' "extremely strong modeling capabilities," noting strength, depth and flexibility of its anti-fraud technology, which the analyst said "can enable firms to tune their approach not only to their risk appetite but also to the very specific requirements of individual typologies (and sub-typologies), payment channels and vertical and horizontal focuses."

"SAS' solution simplifies data integration, enabling firms to combine all internal, external and third-party data to create better predictive models for their particular fraud detection and prevention needs," Chartis wrote. "By combining this data onto a single technology platform, firms have the flexibility to scale as they change and respond to new fraud trends."

GenAI-ready
As one might expect from a global leader in data and AI, SAS' risk, fraud and compliance solutions portfolio offers powerful generative AI capabilities. "Leading vendors in this space are increasingly deploying GenAI across different use cases," Chartis wrote, "such as creating synthetic data, interpreting large, unstructured data, or automating workflow with co-pilots."

The analyst found that "SAS has advanced capabilities across all these domains," both through out-of-the-box options and enabling clients to build custom GenAI capabilities.

"This recognition from Chartis is further validation that SAS is setting the bar in anti-fraud technology," said Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions at SAS. "Through our IP-rich solutions, SAS is able to meet customers where they are to address their specific fraud fighting needs, while offering customers the ability to differentiate through deployment of incremental AI capabilities in a consistent and governed manner."

The future of fraud fighting
Curious how anti-fraud professionals are using AI, predictive modeling, biometrics, robotics and other tech to combat an evolving array of scams and schemes? Download the 2024 Anti-Fraud Technology Benchmarking Report , joint research by the Association of Certified Fraud Examiners and SAS, at sas/fraudreport .

About Chartis Research
Chartis 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 SAS
SAS is a global leader in data and AI. With SAS software and industry-specific solutions, organizations transform data into trusted decisions. 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 © 2024 SAS Institute Inc. All rights reserved.

Editorial Contact:
Trey Whittenton
[email protected]
919-531-6829
sas/news

SOURCE SAS

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE? 440k+
Newsrooms &
Influencers 9k+
Digital Media
Outlets 270k+
Journalists
Opted In GET STARTED

MENAFN01102024003732001241ID1108734914


PR Newswire

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.