Santander to Use SAS Software in Attempt to Reduce Fraud

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Banco Santander Brazil is using SAS software in an effort to reduce banking fraud and improve overall data and operational cost management.

The new platform includes SAS's Fraud Network Analysis, Visual Analytics and Grid Manager products, according to a company release. More specifically, the bank said, its objective is to significantly reduce fraud in three areas: credit cards, current accounts and loans. It also hopes to create more efficient retail credit policies and models.

Fernando Diaz, executive director of technology at Santander, said in a press release that the bank plans to use these new solutions this year to fuel anti-fraud efforts, reduce related losses and support growth.

SAS, a business analytics software and services provider in Cary, N.C., will assist Santander's efforts to improve information management by adapting and altering existing models, he added. The new SAS platform "would give us autonomy to manage processes," he said.

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