The Chartis report forecasts the worldwide credit risk management systems market to grow to US$8.63 billion by 2012, at a steady 7% compound annual growth rate. The report examines the demand and supply side of the market for credit risk management systems and covers key market and regulatory requirements, implementation challenges and the competitive landscape. According to Chartis, the common factor among established leaders such as SAS "is the ability to offer multiple solutions across the ERM (enterprise risk management) spectrum and coverage across multiple assets/products." Chartis states that "these integrated offerings provide significant value for financial institutions looking for a cost-effective 'one-stop shop' for a range of risk and compliance solutions."
"SAS as a leader in both Chartis credit risk management and operational risk management reports underscores the need for financial institutions to operate integrated advanced risk analytics, reporting/dashboard and data management across their business lines," said David Rogers, SAS' Global Product Marketing Manager for Risk.
SAS Credit Risk Management for Banking, which includes SAS(R) Credit Scoring for Banking, integrates data aggregation, analytics and reporting within a transparent framework to provide an open, extensible environment with complete capabilities for retail credit scoring, corporate credit rating and credit portfolio risk management. The solution is transparent and auditable, facilitating supervisory review, both internally and by regulators, as required by Basel II and other regulations. The underlying credit risk data model helps firms consolidate credit data from disparate sources and supports faster implementation.
Chartis Research recently ranked SAS as the leader for the fourth consecutive year in its "Operational Risk Management Systems 2008" report.
More than 200 financial services institutions use SAS for credit risk and operational risk management, including: Bankdata (Denmark), BB&T (USA), Caisse Nationale des Caisses d'Epargne (France), Commerzbank (Germany), Grupo Santander (Spain), HSBC (UK), HypoVereinsbank (Germany), Kookmin Bank (Korea), Landsbanki (Iceland), Northern Rock (UK), Raiffeisen Zentralbank (Austria), Volkskreditbank AG (Austria), Vseobecna Uverova Banka (Slovakia) and Woori Bank (Korea).
About SAS
SAS is the leader in business intelligence and analytical software and services. Customers at more than 44,000 sites use SAS software to improve performance through insight from data, resulting in faster, more accurate business decisions; more profitable relationships with customers and suppliers; compliance with governmental regulations; research breakthroughs; and better products and processes. Only SAS offers leading data integration, storage, analytics and business intelligence applications within a comprehensive enterprise intelligence platform. Since 1976, SAS has been giving customers around the world THE POWER TO KNOW(R). www.sas.com
SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. (R) indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright (C) 2008 SAS Institute Inc. All rights reserved.
SOURCE: SAS
SAS Kris Balic, 919-531-0624 Kris.Balic@sas.com Visit the SAS Press Center www.sas.com/presscenter
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