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2024 Anti-Fraud Technology Benchmarking Report
In 2024, using technology as part of an anti-fraud program is a necessity. Fraud perpetrators continually seek ways to exploit technological developments and human weaknesses to accomplish their schemes. Organisations must employ the most effective tools to guard against these threats, and that often means implementing new programs and training staff to effectively use them. To understand how organisations are approaching this mission, the ACFE and SAS have partnered to conduct a series of studies on the use of anti-fraud technologies by organisations around the world. As a follow-up to our first two reports released in 2019 and 2022, our latest report explores trends in the current and expected adoption of traditional analytics, artificial intelligence (AI) and generative AI, case management tools, biometrics, and a host of other technologies that can be used to combat fraud. It is our hope that anti-fraud professionals, organisational management, and others find the information herein to be beneficial in benchmarking and assessing the effectiveness of their anti-fraud technology toolkits and planning for future technology-related budgets and resources.
How AI and Machine Learning Are Redefining Anti-Money Laundering.
The bad actors are making strong plays. Take every advantage to fight back. Artificial intelligence can play a big role in the defence against money laundering for its ability to: Automate tasks that formerly required human intervention, such as disposition of alerts. Detect more risk and effectively prioritise it with sophisticated analytics techniques. Provide richer context for investigations. Despite the potential, the financial services industry has been slow to adopt machine learning techniques for AML. This paper explains what machine learning can do, presents six practical use cases and shows how SAS can help.
Proactive anti-financial crime strategies to improve compliance and reduce risk
Financial institutions often struggle to run efficient anti-money laundering investigations. One reason? The traditional, rules-based approach overwhelms investigators as they check off boxes to follow prescriptive compliance processes. This hinders investigations in today’s fast-changing landscape. To become nimbler and more effective across all stages of AML investigations, follow this framework and shift to a proactive, risk-based approach.
From Crisis to Opportunity: Redefining Risk Management
How a more automated approach to risk management can transform banks’ performance, during the pandemic and beyond. Emerging technologies are transforming every aspect of financial services, and COVID-19 has only accelerated banks’ implementation of their digitalisation ambitions. From the way customers complete transactions to how banks make decisions, digital tools are bringing greater speed, efficiency and transparency to many aspects of the financial workflow. A new global survey by SAS of 300 senior banking executives reveals a group of banks that are leading the way in automating risk modelling and digitalising risk management. In addition to the survey, we also conducted in-depth interviews with four senior banking executives to understand how they are transforming the approach to risk management within their organisations.
Top 10 global banking industry trends for 2023
Experts from analytics and AI leader SAS forecast the trends that will most impact financial services organizations in the year ahead
Improving Customer Experience
How organisations of all sizes are using analytics to gain customer insights, make better decisions and grow their business.
What can you see and discover when you’re able to explore trends and make predictions with your organisation’s data? If you’re a midsize home delivery business, you can discover new ways to make customers happy. If you’re a local government agency, you can predict where your resources are needed most. And if you’re a growing hospital, you can bring life-changing patient data directly to doctors and nurses. In this e-book, we’ve profiled seven organisations that are using self-service visual exploration to make big improvements in the way they work. From college administrators to professional sports teams, everyone makes better decisions with easy access to powerful, interactive analytics.
