SAS has launched a new solution designed to allow banks to rapidly test anti-money laundering scenarios, the business analytics software and services provider announced March 16.
The new solution, called SAS Transaction Monitoring Optimization, lets analysts use in-memory architecture to test AML models against large data volumes, the Cary, N.C.-based business analytics software and services provider said in a press release. The technology also integrates industry-vetted methodology for segmentation, validation, tuning and simulation of AML models.
SAS' new technology, which supports the most recent release of the SAS Financial Crimes Suite, features three visualization capabilities: SAS Visual Analytics, SAS Visual Statistics and SAS Visual Scenario Designer.
The first visualization tool helps banks identify new risk patterns, allowing them to create a monitoring strategy. SAS Visual Statistics, meanwhile, is geared toward data scientists and builds statistical models instantly that can show the correlations with potential suspicious activity.
The Visual Scenario Designer, unlike the other two tools, is intended to help users test scenarios and strategies against large volumes of data. This tool makes the testing process move faster, according to SAS, providing multiple simulations in seconds.
