SAS noted as 'strong overall offering with the best visual link analytics capabilities'
SAS was ranked a leader in the recent The Forrester WaveTM : Enterprise Fraud Management, Q1 2013 report .1 Part of the SAS Security Intelligence portfolio, SAS for enterprise fraud management, described by the Forrester report as a "true power tool", scored highest among all eight vendors in both current offerings and strategy.
The volume and sophistication of fraud continue to grow. Forrester estimates "that globally merchants are paying between $200 billion and $250 billion in fraud losses annually, while banks and financial services organisations are losing between $12 billion and $15 billion annually."
To fight fraud effectively, organisations must continually improve the monitoring of customer behaviour across multiple accounts and systems with a technology infrastructure that integrates fraud detection, alert management, network analysis and case management. SAS, along with another vendor, was noted by Forrester as providing integrated compliance and enterprise fraud management as well as enhancing an organisation's business intelligence capabilities.
Forrester noted that "SAS offers significant capabilities in analytical and statistical modelling, rule editing, and visual link analytics. The solution's rule writing is customisable and extensible. SAS has a market presence in the broadest spectrum of verticals."
"Harnessing SAS' core analytic capabilities in the enterprise fraud platform offers better fraud prevention and return on investment," said Stu Bradley, director of security intelligence solutions at SAS. "Forrester recognising SAS for having the 'broadest presence in nonfinancial verticals such as insurance, government and retail' validates SAS' strategy to leverage cross-industry expertise, establishing the market-leading best practice in financial crimes solutions."
The report praised SAS for "great case management, extensive reporting, and data analytics based on SAS' own ecosystem." Forrester also touted SAS for its innovation: "Because SAS is not a public company, its free to innovate, which is evidenced in its data analytics and mobile-device-based user interface and dashboard and reporting capabilities."
Bradley continued, "This in-depth research validates our dedication to technology innovation, led by our fraud and data scientists, which has resulted in repeatable client success in this continuously evolving market. In 2012, SAS saw a 22 per cent growth in customers choosing SAS for anti-fraud, compliance and security efforts."
Employing innovative continuous monitoring technology and high-performance analytics, the SAS Security Intelligence platform helps customers improve accuracy and guard against losses from fraud and improper payments, regulatory non-compliance, and threats to public security. Learn more about SAS Security Intelligence.
1. Forrester Research, Inc. The Forrester Wave: Enterprise Fraud Management, Q12013, Andras Cser with Stephanie Balaouras and Elizabeth Langer.