Tackling fraud with analytics
SAS has stepped up its Security Intelligence initiative, creating a new R&D division focused on solutions and capabilities for fraud and compliance. SAS says its fraud, compliance and security teams grew 165 percent this year driven by the hiring of domain experts to support customer demand.
SAS is increasing focus in this space and created the new Fraud and Compliance division to address the need for enterprises to detect multichannel fraud and regulatory non-compliance. These shared development resources are valuable when supporting integrated components on a common technology foundation.
The company reports it will enhance existing products with in-memory, streaming and distributed computing technologies and develop new industry leading solutions for fraud, compliance and security. The team also plans to expand offerings to help other industries such as utilities and telecommunications with fraud, compliance and security challenges.
The first of those solutions, SAS High-Performance Anti-Money Laundering will be available in the first quarter of 2013.