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SAS signs another Basel II customer

Business intelligence vendor SAS has announced that it has signed up its 100th customer for risk management software relating to the new Basel II accord in the EMEA (Europe, Middle East and Africa) region.

The company has reported that its revenues have doubled in the region over the past year and SAS now plans to expand its range of products for the financial services sector.

SAS has Basel II customers across the world, including India and Australia, and is witnessing rapid growth in most markets, with many leading banks adopting its risk management software.

SAS EMEA financial services general manager, Ian Manocha, said: "A major contributor to SAS' growth in the financial services industry has been our success in winning Basel II projects. The number of these projects validate that financial institutions recognise the depth and breadth of SAS' banking and insurance intelligence solutions."

The Basel II accord is an international banking effort to update the original international bank capital accord (Basel I) and has been developed by the Basel Committee on Banking Supervision to improve capital regulations and risk management practices.