SAS a Leader in enterprise fraud management, says top research firm

Report ranks SAS among top EFM vendors, with highest possible marks in machine learning-based risk scoring and alerting, reporting criteria

Data and AI trailblazer SAS is ranked as a Leader in The Forrester Wave™: Enterprise Fraud Management Solutions, Q2 2024, the prestigious analyst firm’s highest designation. Among the 12 select enterprise fraud management (EFM) vendors Forrester evaluated on 21 criteria, SAS is one of only two named as Leaders.

SAS’ enterprise fraud solutions suite – comprised of SAS^® Fraud Decisioning and SAS^® Fraud Management – earned the highest score in the current offering category of any evaluated EFM vendor.

“SAS’ productized, out-of-the-box supervised and unsupervised machine learning models for banking transaction monitoring are ahead of the competition and require less effort to train than those of competitors,” the Forrester report noted. “Analyst investigation screens are intuitive and customizable. Reporting is versatile, visually pleasing, and easy to configure. … The solution is a great fit for large financial institutions and insurer organizations.”

Meeting consumers’ expectations for robust fraud safeguards

Detecting and preventing fraud has become more imperative than ever, both for businesses and for their customers. Indeed, when considering loyalty and retention, the two interests are often one and the same: Two-thirds of respondents in SAS’ 2023 consumer fraud study, Faces of Fraud, said they would change service providers in the interest of better fraud protections.

SAS delivers powerful anti-fraud capabilities. Among the 11 criteria evaluated within the current offering category, SAS received the highest possible scores in seven:

• Machine learning-based risk scoring and alerting.
• Productized and in-house models.
• Segmentation and behavioral profiles.
• Analyst investigation.
• Channels.
• Reporting.
• Scale.

SAS also received the highest possible scores in four of eight evaluation criteria within the strategy category, including vision, road map, adoption and community.

“SAS provides a broad selection of out-of-the-box EFM machine learning models,” the Forrester evaluation noted, adding that SAS’ “EFM vision and product roadmap are first-rate.”

“We believe Forrester’s assessment shows that SAS is the premier technology partner for enterprise fraud management,” said Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions at SAS. “With the explosion in AI technologies, having that trusted partner is crucial to help quickly realize value from IT investments across the data and AI life cycle.

“SAS’ enterprise fraud solutions on cloud-first SAS^® Viya^® deliver that value and much more. SAS offers an integrated suite of risk management solutions with a shared data ecosystem, real-time scoring and decisioning, and advanced analytics and machine learning, all on a single platform.”

For more on the latest anti-fraud tech trends – including the promise and challenges of generative AI and other emerging technologies – explore SAS’ global study with the Association of Certified Fraud Examiners, the 2024 Anti-Fraud Technology Benchmarking Report.