Reinforcing SAS' worldwide presence in meeting the needs of the international anti-money laundering (AML) community, SAS Anti-Money Laundering software now features national-language support for Arabic, Korean, Norwegian, Russian and Spanish.
SAS, the leader in business intelligence, today announced the latest release of its AML solution which incorporates additional enhancements to help financial institutions combat money laundering.
These capabilities and national-language support will help financial institutions comply with AML regulations more efficiently. In addition, the solution will provide a process for supporting the unique regulatory requirements of foreign jurisdictions. The solution is designed to support additional languages as the need arises.
Later this year, another release of SAS Anti-Money Laundering will support Teradata's large database customers. Financial institutions with very large Teradata databases will be able to monitor hundreds of millions of transactions daily.
The new releases will also offer a more robust method of watchlist processing and ETL (extraction, transformation and loading) code processing.
Installed directly or through a SAS OnDemand solution, SAS Anti-Money Laundering is a sophisticated AML solution that can take mountains of information from all areas of a financial business, manage and refine that information, and turn it into usable knowledge that will help a business automatically identify and classify suspicious behaviour. It can help banks meet stringent government regulations, protect shareholder confidence and maintain a strong reputation. The solution offers an integrated and open-ended architecture that lets banks gather information across data sources, transform the appropriate data into real intelligence, detect suspicious activity and accurately alert investigators and authorities.