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SAS scores four Risk.net Risk Technology Awards

25 October 2021 SAS

Risk.net judges panel lauds SAS for software and solutions that are ‘way ahead of coming regulations and frameworks’.

In a year marked by the COVID-19 pandemic’s tumult and uncertainty, SAS has been recognised by Risk.net for its leadership and innovation. The analytics giant won four prestigious 2021 Risk Technology Awards, including:

• Enterprise wide stress-testing product of the year. From scenario and data management to quantification and reporting, the SAS® Solution for Stress Testing helps banks and insurers achieve comprehensive, scenario-based planning.
• Regulatory capital calculation product of the year. The SAS Solution for Regulatory Capital helps financial organisations manage the complexities of regulatory capital calculation and reporting processes in an integrated, reliable enterprise framework.
• Consumer credit modeling software of the year. Using the latest innovations in AI and machine learning, SAS Risk Modeling and Decisioning spans the entire credit life cycle, enabling banks to simultaneously reduce risk and improve customer service.
• IFRS 9 enterprise solution of the year. The SAS Solution for IFRS 9 is designed to help banking and insurance organisations meet the standard’s regulatory requirements, including modeling, workflow frameworks and report.

Risk.net is among the world’s foremost news and analysis websites covering risk management tools and technology as well as regulation and compliance topics for the financial sector. Its annual Risk Technology Awards honour tech vendors that have outperformed in helping the industry meet its regulatory obligations and overcome challenges in the anti-money laundering, credit and operational risk, and enterprise risk management arenas.

The judging panel, comprised of technology users and the editors of Risk.net, praised SAS for “proactive and continuous innovation” and “feature and benefit rich” products and solutions. One judge remarked that SAS was “way ahead of coming regulations and frameworks”, with offerings that “address major pain points for banking customers such as reducing backlog, adding standardisation, and common models and assumptions to drive analytics.” Another noted that the “differentiator as usual with SAS is quality of architectural design of content, platform and platform components.”

SAS’ array of award-winning solutions integrates seamlessly via SAS Risk Stratum. The cloud-ready risk management software platform provides a single source of the truth across departments and consistent, role-specific user experiences across risk solutions.

“Not since the 2008 financial crisis, and maybe not even then, has the industry faced such disruption and uncertainty, which makes these accolades particularly resonant – not for the recognition so much as the customer successes they represent,” said Troy Haines, Senior Vice President and Head of Risk Research and Quantitative Solutions at SAS. “Almost overnight, risk models and the data upon which they were built became unreliable. And yet, through their SAS investments, our customers quickly recalibrated their risk compasses and have seen themselves through the crisis, many of them on stronger footing, all while helping their own customers survive and recover.”

What did a recent global survey of 300 senior banking executives by Longitude reveal about the transformational benefits of risk management automation and modernisation? Download the white paper From Crisis to Opportunity: Redefining Risk Management to learn more.

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