Teradata

Overview

While only a decade ago few institutions had anti-money laundering (AML) monitoring solutions, today a financial institution’s AML program is one of its most scrutinized risk management functions. As regulatory scrutiny continues to increase, financial institutions need to ensure that they have strong internal controls for timely detection and filing of potential money-laundering activity across the global enterprise.

While AML monitoring applications have become an industry necessity, evaluating such solutions can be a challenge. Among the key questions institutions must ask are:

• Has the solution passed regulatory muster?
• Can the software adapt to your institution’s business lines and unique risks?
• Does the AML solution vendor exhibit staying power?
• Does the solution employ analytics that limit costs?
• Is there close integration between the AML application and enterprise data warehouse platforms to foster linkage between customer and related databases?
• Does the AML solution vendor have local qualified services for after-sales support?

Full AML compliance at the lowest total cost of ownership

The solution

With more than 45 customers in 22 countries, SAS Anti-Money Laundering is a mature, enterprise-class AML solution with a strong market presence and a well-earned reputation for efficient, cost-effective implementation.

As a sophisticated, risk-based monitoring and alert system designed to meet the needs of large, global financial institutions, SAS Anti-Money Laundering:

• Manages and refines mountains of customer and transaction data from all areas of the enterprise
• Detects subtle patterns that could indicate suspicious behavior
• Automatically identifies, classifies, and surfaces potentially suspicious activities for further investigation

SAS Anti-Money Laundering now fully supports Teradata customers, providing a robust, risk-based approach to money laundering and regulatory compliance at the lowest total cost of ownership.

Why Teradata and SAS?

SAS Anti-Money Laundering for Teradata brings together the industry-leading financial crimes solution from SAS and the industry-leading parallel processing platform from Teradata.

This powerful combination enables you to execute AML scenarios and risk factors directly in the Teradata platform. As a result, you will be able to monitor more risks with fewer redundant data repositories and hardware resources. This significant increase in data processing efficiency:

• Accelerates the compliance processing window
• Reduces data preparation and storage costs
• Produces actionable decision making intelligence to mitigate operational exposures

Confident AML compliance, lower overall costs

• Improved data coverage and processing ability across the enterprise with an award-winning database platform that handles the growing data volumes required to monitor enterprise-wide money laundering, terrorist financing and fraud risks
• Improved efficiency of investigations enabled by integration of complex information into a single view of the customer and related parties
• Reduced false positives through improved analytics
• Lower implementation risk through pre-built SAS and Teradata integration

How It Works

With a risk-based approach to monitoring customer behavior, SAS Anti-Money Laundering for Teradata helps ensure regulatory compliance by:

• Establishing a robust data environment that supports all products, channels, and lines of business
• Providing a point-and-click interface that enables easy modification and creation of analytic scenarios
• Scoring customers’ risk daily based on past, present, and expected activity across all accounts
• Using a proven implementation methodology that gets you up and running in a matter of months

Going a step beyond

SAS Anti-Money Laundering for Teradata goes beyond traditional, parameter-driven, rules-based monitoring systems to address such things as willful blindness by identifying entities that have multiple high-risk characteristics without the transactions to warrant investigation.

Enhanced power

The power of the SAS solution is enhanced when integrated with the Teradata Database and technology platform. That’s because your data warehouse investment can be used to more efficiently monitor hundreds of millions of transactions associated with customers and related parties – with greater accuracy and fewer false-positive alerts.

Greater efficiency

In addition, the high availability of Teradata platforms increases your ability for more efficient investigations and fewer headcount. As a result, your financial intelligence units can focus their resources on where they’re needed most in meeting your organization’s compliance needs.

Center of Excellence

SAS and Teradata have jointly invested in a Center of Excellence that brings together a dedicated team of solution architects and technical consultants to help you optimize the performance of your current and future IT infrastructure. This organization will tap into the strengths of both SAS and Teradata to increase the efficiency, effectiveness, quality, and ROI of your key business initiatives.

For More Information

To learn more about the value of SAS Anti-Money Laundering for Teradata, contact your Teradata representative.