New SAS division to fight fraud with AI and analytics

SAS has formed a global Fraud and Security Intelligence Division to help organisations better detect and

The company plans to add another 100 employees over the next three years to join the more than 400 employees in 25 countries in this division.

According to PwC’s 2018 Global Economic Crime and Fraud Survey, 49 percent of companies said that they have been victims of fraud and economic crime in the last two years – up from 36 percent the year before.

“The rise of the digital economy has been matched by the rapid spread of fraud and cybersecurity risks, making now an ideal time for SAS to redouble and refocus its leadership in this area.  We want to meet customers where they are in their analytics journeys, particularly as they adopt technologies like AI, IoT and cloud,” said Stu Bradley, Vice President of Fraud and Security Intelligence at the new division.

 

 

As enterprising criminals become more organised and technologically sophisticated, the analytic tools used to thwart their schemes must outpace their advances.

The formation of the division will drive greater innovation by bringing together software developers and technology professionals from across the fraud, compliance and security domains.

SAS customers will benefit from hybrid analytic approaches with embedded machine learning, artificial intelligence and social network analytics. The new fraud division will also align with SAS’ risk and IoT divisions to deliver value across the enterprise on a common platform.

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