Sovereign Bank deploys SAS anti-money laundering software

Source: SAS

Sovereign Bank announced it has chosen SAS Anti-Money Laundering software as an additional component to its anti-money laundering programme.

SAS Anti-Money Laundering will be used by Sovereign to automate the review of transaction activity. Sovereign recognised that SAS' customer list included one of the world's largest financial institutions that selected SAS to power its anti-money laundering program.

"With more than a quarter-century of serving the financial services industry, SAS is proud to build upon our relationships with industry leaders like Sovereign and offer technologies to address their specific business needs," said Dr. Jim Goodnight, CEO of SAS. "The strength of SAS analytics and data management technology - at the core of all our solutions - sets a solid foundation for financial institutions to partner and grow with SAS."

SAS Anti-Money Laundering provides an enterprise-wide solution, tracking transactions across all products, channels and lines of business to ensure a comprehensive view of each customer. SAS also offers a hosted solution with all SAS-owned technology instead of a variety of vendor components.

In addition, SAS provides a consortium for its anti-money laundering customers, enabling them as a community to share best practices and knowledge. Within the software industry, SAS, the leader in business intelligence, is known for its steadfast reputation, financial stability and commitment to its customers, as demonstrated by its high investment in research and development.

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