New IDC MarketScape finds that, within the combat towards fraud and monetary crime, SAS’ end-to-end options assist enterprises expertly steadiness between mannequin accuracy and explainability
CARY, N.C., Aug. 11, 2022 /PRNewswire/ — SAS was lately named as a Chief within the IDC MarketScape: Worldwide Accountable Synthetic Intelligence for Built-in Monetary Crime Administration Platforms 2022 Vendor Evaluation (doc #US47457622, July 2022). The report gives IDC MarketScape’s first-ever comparative evaluation of the banking trade’s prime monetary crime administration options powered by AI. It consists of SAS and eight different distributors – all providing standalone AI functions to stop and detect fraud and anti-money laundering (AML).
“Solely a extra holistic, AI-based and actual time method to preventing fraud and monetary crime can ship the agility banks have to hold forward of the ever-changing and more and more refined threats that outline in the present day’s threat panorama,” mentioned Ritu Jyoti, group vice chairman, synthetic intelligence and automation market analysis and advisory providers IDC. “SAS has confirmed itself on the forefront of synthetic intelligence and machine learning-powered resolution innovation, providing an end-to-end resolution that permits monetary providers organizations to fight fraud, cash laundering, and terrorist financing throughout channels and enterprise strains – all from a single, enterprise-wide platform.”
Accountable AI: “rising as a dominant prerequisite for AI,” in line with IDC
The IDC MarketScape report defines accountable AI as a framework for fostering a company’s belief in its AI options, underpinned by 5 foundational pillars: equity, explainability, robustness, lineage, and transparency. “Accountable AI is rising as a dominant prerequisite for AI, and companies should take a proactive stance,” the report advises.
SAS’ dedication to accountable innovation is an organization information star, coordinated by the cross-functional SAS Knowledge Ethics Follow.
“Finest-in-class platforms have to be reliable to realize long-term effectiveness and resilience,” mentioned Reggie Townsend, Director of the SAS Knowledge Ethics Follow. “A monetary establishment’s capability to establish and alert for suspicious habits have to be pretty distributed, clear for auditing and explainable to these affected if their choices are to be trusted.”
SAS simplifies information integration, allows strong modeling and actual time monitoring
The IDC MarketScape’s evaluation, primarily based on vendor interviews, end-user suggestions, and publicly obtainable data, discovered that the simplicity of SAS’ information integration capabilities on a single platform permits monetary establishments “to create a extra correct predictive mannequin tuned to a company’s wants” and “offers enterprises the pliability to scale up or out as their enterprise modifications and reply sooner to new threats as they come up.”
“Embedded machine studying strategies detect and adapt to altering habits patterns, leading to simpler, strong fashions,” the evaluation states. “Key expertise elements let enterprises simply spot anomalies for every buyer. In-memory processing delivers high-throughput, low-latency response occasions – even in high-volume environments – enabling enterprises to attain 100% of transactions in actual time.”
In extolling SAS’ strengths, the report notes, “SAS has achieved a robust technique performance and providing, progress, and capabilities in reliable and moral AI and buyer satisfaction,” including that “clients appreciated that SAS has the instruments to assist steadiness between accuracy and explainability of the machine studying fashions.”
The IDC MarketScape evaluation additionally acknowledges SAS’ future-forward AML and fraud software program growth: “SAS’ enterprise priorities embrace enhanced supervised studying, visualization, and elevated integration, all of which can assist enhance monetary establishments’ capability to combat monetary crime with superior effectivity and accuracy.”
A aggressive edge
Accountable AI-based fraud and monetary crimes administration is about greater than enhancing detection charges and lowering false positives. Business leaders have come to acknowledge it because the lynchpin to wider enterprise decisioning that may assist monetary corporations differentiate themselves in an more and more aggressive sector.
“The explosive acceleration of digital banking and funds has made AI and machine studying desk stakes in detecting fraud and suspicious exercise whereas nimbly adapting to swiftly shifting dangers,” mentioned Stu Bradley, Senior Vice President of Fraud and Safety Intelligence at SAS. “Those who method such innovation responsibly may also help bridge operational silos, enhance effectivity, gasoline product and repair innovation, and optimize expertise throughout the client journey. All whereas, most significantly, selling belief in expertise and automation.”
Uncover why different analysts additionally take into account SAS a fraud and AML expertise chief by visiting SAS on-line.
About IDC MarketScape
IDC MarketScape vendor evaluation mannequin is designed to supply an outline of the aggressive health of ICT (data and communications expertise) suppliers in a given market. The analysis methodology makes use of a rigorous scoring methodology primarily based on each qualitative and quantitative standards that leads to a single graphical illustration of every vendor’s place inside a given market. IDC MarketScape offers a transparent framework during which the product and repair choices, capabilities and methods, and present and future market success elements of IT and telecommunications distributors will be meaningfully in contrast. The framework additionally offers expertise consumers with a 360-degree evaluation of the strengths and weaknesses of present and potential distributors.
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Danielle M. Bates