SAS leads enterprise & payment fraud solutions again

Chartis Research has once again named SAS as a leader in the field of enterprise and payment fraud solutions.

In its latest report entitled Enterprise and Payment Fraud Solutions, 2024: Market Update and Vendor Landscape, SAS was recognised as a category leader for the 11th consecutive time. The recognition reflects SAS's strong performance in several evaluated areas, particularly in payment fraud solutions.

SAS's Fraud Decisioning solution received the highest overall score for Completeness of Offering in the report's analysis of payment fraud solutions. Notably, SAS distinguished itself as the only vendor to achieve a five-star rating in all aspects of the payment rails category, indicating its "best-in-class capabilities." Additionally, the company secured the top rating for core technology aspects such as fraud typologies, as well as speed, volume, and performance.

In terms of enterprise fraud solutions, SAS was rated as either "best-in-class" or "industry-leading" across all capabilities assessed by Chartis. Nick Vitchev, Director at Chartis Research, commented on SAS's continuous leadership in the industry, stating, "SAS's longtime category leader status reflects its AI acumen and deep expertise and focus across the fraud and financial crimes life cycle." He further highlighted the company's ability to scale and configure solutions effectively across the entire fraud cycle.

Chartis's Vendor Analysis identified several strengths in SAS's offerings. These include comprehensive solutions for the financial crimes spectrum, data orchestration that integrates advanced technologies like geolocation and biometric data, and versatile user interfaces that facilitate both SAS and open-source modelling techniques. The analysis also commended SAS's focus on practical domain expertise, which includes periodic consultations with customers to share industry trends and best practices.

Chartis noted the strong and flexible modelling capabilities of SAS's anti-fraud technology, allowing firms to adjust their fraud strategies to meet specific risk appetites and typologies. In its report, Chartis stated that SAS's solutions simplify data integration, enabling organisations to utilise both internal and external data effectively to enhance predictive models and respond flexibly to new fraud trends.

In accordance with its leadership role in data and AI, SAS has incorporated advanced generative AI capabilities into its risk, fraud, and compliance solutions. Chartis emphasised that SAS is progressing in leveraging generative AI across a variety of applications, including the creation of synthetic data and the automation of workflows.

Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions at SAS, expressed satisfaction with the recognition from Chartis. He stated, "This recognition from Chartis is further validation that SAS is setting the bar in anti-fraud technology." Bradley emphasised that SAS's solutions are designed to meet customer needs flexibly while enabling the integration of AI capabilities in a governed manner.

The report also sheds light on the broader trends in anti-fraud technology, drawing from joint research by the Association of Certified Fraud Examiners and SAS. It explores how professionals are utilising technologies like AI, predictive modelling, and biometrics to combat evolving fraud schemes.