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It's not just IBM — Oracle, SAS and SAP are among the large vendors making major investments in bank risk technology. Their reasons for doing so are sound.
September 1
SAS, a business analytics software and services company, said Monday that it has seen significant growth in its global banking sales.
SAS reported in a press release that new sales grew by 26% from January to October in the global banking industry compared with the same period in 2010.
Additionally, the financial services sector represents the largest industry that uses SAS for customer analytics with new banking sales currently more than 150% compared to last year. This growth stems from the weak economy driving banks to more precisely assess the needs of their customers at every interaction, SAS said.
Chartis Research also estimates that financial crime IT spending will grow to $4.3 billion by 2013. SAS fraud prevention revenue in financial services is up 147% from last year, the company said.
