SAS Institute Inc. said sales of its risk management software more than doubled last year, as financial companies stepped up their efforts to reduce vulnerability to fraud and poor lending choices.
The Cary, N.C., vendor announced the sales growth Friday but did not provide a total revenue figure for its SAS OpRisk Management application.
More than 70 financial companies have installed the application, which offers data management, analytics, and regulatory compliance capabilities to banks. SAS said the software is designed to help companies manage capital allocation while controlling risk.
For bankers, risk management has become a more pressing concern since the subprime mortgage crisis revealed problems with lending controls at many companies.
