Landsbankinn
Identifying patterns to fight financial crime.
LANDSBANKINN IS ONE OF HUNDREDS OF GLOBAL ORGANIZATIONS THAT RELY ON SAS® ANTI-MONEY LAUNDERING.
How do you separate the dubious from the day-to-day?
That’s the challenge facing Landsbankinn – and other banks of all sizes around the globe – as they try to root out financial crime. If each potential crime is a needle, it's buried in a haystack of everyday transactions. Knowing which ones to flag and which ones not to requires the right strategy – and technology – to identify suspicious patterns.
Accentuating the (real) positive.
While a vast majority of the transactions that Landsbankinn processes won’t trigger any alerts, a handful may point to suspicious activity.
Before turning to SAS, the screening system flagged about 1,000 false positives transactions each day. With a limited number of investigators, lowering that number to focus on truly suspicious claims was a goal.
90% reduction in false positives.
By using SAS Anti-Money Laundering to identify patterns and SAS Visual Analytics to give visualization capabilities to analysts across the organization, those 1,000 daily false positives were reduced to 100.
For Landsbankinn – a longtime SAS customer – the combination of anti-money laundering and data visualizations put a new spin on their view of analytics.