SAS Rated as a Chartis Credit Risk 2.0 Category Leader

By AIT News Desk On Feb 5, 2020

Per Chartis, SAS’ overall strength in analytics underpins its credit risk solutions

At the forefront of advanced analytics risk technologies, analytics giant SAS has been named a category leader in the Chartis RiskTech Quadrant for Credit Risk Solutions (Banking Book).

SAS’ risk management solutions help banks cover all the bases – from comprehensively and securely viewing risk at all levels, to model risk management, to summarizing and visualizing tangible results for key stakeholder decisioning. Chartis highlights SAS’ integrated approach to regulatory and accounting reporting requirements such as CECL and IFRS 9, concluding in the report that “SAS supports every step of the credit risk model lifecycle in a holistic and interconnected way – through SAS Risk Modeling, covering development, deployment and decisioning, and SAS Model Risk Management, a model governance platform, to manage, analyze and report on the model lifecycle.”

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“SAS has helped modernize a changing financial services industry, offering solutions and features that boost efficiency and help solve credit risk challenges,” said Sidhartha Dash, Research Director at Chartis. “A long-time analytics pioneer, SAS’ core capabilities are a solid attribute to its credit risk components. SAS’ established, risk technology solutions demonstrate its maturity in analytics and attest to its dedication to innovation in the space.”

Chartis evaluated risktech vendors’ completeness of offering in analytics, data management, risk data aggregation and allocation, enterprise stress testing and scenario management, and reporting and visualization.

“With a growing spotlight on credit risk analytics, strategy and management, it has become imperative that financial institutions are well-equipped to meet increasing regulatory and accounting standards for transparency, such as IFRS 9, CECL, and the new Basel III guidelines set to go into effect in early 2022,” said Troy Haines, Senior Vice President and head of the risk management division at SAS. “What was once a cumbersome process is now transformed into a streamlined workflow with SAS solutions for credit risk. Banks can improve performance and loss mitigation while securing a competitive edge along the way.”