Banks continue to boost SAS® software sales in 2012
Posted: 28 November 2012 | Source: SAS
Analytics helps banks improve data for better customer intelligence, regulatory compliance, risk and fraud management.
While striving to improve customer experiences, banks must also juggle risk and fraud management with data management and regulatory compliance. Analytics from business analytics leader SAS continues to help banks strike a balance even during tough economic challenges, evidenced by new sales growth of 15 percent in the global banking industry compared to the same period in 2011.
Heightened regulatory compliance requirements such as Basel III and Dodd-Frank have spurred the growth of data management solutions – up globally more than 80 percent over 2011. And new global sales of risk management solutions – up more than 40 percent – show banks are investing in better risk management to handle economic volatility and regulatory demands.
Organizations that have selected or further invested in SAS® this year include: Alliant Credit Union (US), Associated Bank (US), ABN AMRO (Netherlands), AG2R-La Mondiale (France), Argenta (Belgium), B&N Bank (Russia), BAC Credomatic Group (Colombia), Banca Carige Group (Italy), Banco Ahorro Famsa (Mexico), Banco Bradesco, (Brazil), Banco Compartamos (Mexico), Banco Multiva (Mexico), BBVA Colombia (Colombia), Cabot Credit Management (UK), CBE Group (US), Cosmos Bank (Taiwan), HDFC Bank (India), Intesa Sanpaolo Group Services (Italy), Land Bank of the Philippines (Philippines), Sberbank (Russia), Tatra Banka (Slovakia), UniCredit Bank Slovakia (Slovakia), VUB Banka (Slovakia) and Zions Bancorporation (US).
"All regions have seen strong new sales, with the US up more than 60 percent, Asia Pacific up almost 30 percent and EMEA up nearly 20 percent compared to 2011," said David M. Wallace, Global Financial Services Marketing Manager with SAS. "The dramatic increases in regulations globally are driving banks to better manage and analyze silos of big data."
New US sales of analytics and business intelligence solutions have grown at triple-digit rates, more than 100 percent year-to-date, with data management solutions up more than 200 percent. Fraud management solution sales in banking are up 20 percent for the US, reflecting continued investment in enterprise fraud management solutions that protect banks and their customers across all transaction types and channels.
EMEA risk management solutions sales have also spiked, up more than 70 percent compared to 2011. New EMEA sales of data management and business intelligence solutions grew more than 80 percent. Asia Pacific new risk management solutions sales are growing at triple-digit rates.
Banks facing increased regulatory requirements must overcome the challenges of data integration and data quality to better manage risk and analyze lending decisions. SAS® Risk Management for Banking addresses all major risk types, as well as data management and reporting. The Banker, a premier international banking and finance publication and resource, presented its Risk Management Technology award in the Innovation in Banking Technology Awards 2012 to SAS Risk Management for Banking.
Recently, SAS Enterprise GRC landed in the Leaders quadrant of Gartner Inc.'s Magic Quadrant for Enterprise Governance, Risk and Compliance Platforms report1. In Chartis Research’s RiskTech100 rankings for 2012, SAS ranked first in the banking vertical and second overall.
With more than 35 years of experience in financial services, SAS works closely with top financial institutions to provide timely solutions that address critical business needs. In the financial services industry alone, SAS data management, fraud detection, risk management, regulatory compliance, customer intelligence and other software is used by more than 3,300 financial institutions worldwide. Financial services represent SAS' largest industry segment by revenue, contributing 40 percent of the total company software revenue of $2.73 billion in 2011.