SAS-Silverlake partnership aims analytics solutions at Malaysian banks
- Silverlake to incorporate SAS analytics capabilities into its services
- Banks able to leverage on market-main competencies of both organizations
US-based totally commercial enterprise analytics employer SAS Institute has introduced a partnership with IT answers company Silverlake Group to introduce a number of SAS superior analytics answers to banks in Malaysia.
The have signed a Memorandum of Understanding (MoU) with the intention to see Silverlake incorporating SAS’ huge facts analytics competencies into its offerings.
“The strategic partnership between SAS Malaysia and Silverlake Group will permit Malaysia’s banking industry to leverage on the market-leading abilities of both companies,” said SAS Malaysia handling director Andrew Tan.
“With extra than 35 years of global enjoy in monetary services, SAS has labored closely with pinnacle economic establishments to provide analytics solutions which address important enterprise desires.
“This partnership will assist the banking industry in Malaysia improve client studies and consumer profitability, control chance and regulatory compliance, anticipate fraud and create cost from facts,” he claimed.
The partnership additionally involves a transfer of information wherein Silverlake Group may be capable of leverage at the information and expertise of SAS’ implementations of superior analytics solutions for a number of the largest banks international together with Bank of America, Westpac Bank, HSBC Bank, Citibank, DBS Bank, and United Overseas Bank, SAS said.
“As the banking industry generates an increasing number of records, the use of high-performance analytics tools to apprehend and make experience of that facts will become imperative,” stated Silverlake Group chairman Goh Peng Ooi.
“Our customers want to better apprehend what clients need and after they want it, and at what fee. They need to higher recognize their operations to enhance efficiencies and profitability.
“Banks want technology which can predict chance and fraud in actual-time that allows you to defend their customers assets. SAS is the marketplace leader in advanced analytics and partnering, with a global chief will not best supply us a competitive advantage however our clients as properly,” he added.
According to SAS Malaysia’s Tan, SAS Customer Intelligence answers could help banks gather and analyse purchaser facts throughout a couple of channels, and create a 360-degree view of a customer in real-time.
“With this banks can then apprehend which clients are in all likelihood to buy a brand new product and which can be in all likelihood to leave the financial institution absolutely. This will allow Malaysian banks to supply extra relevant offers to their clients so as to hold to force loyalty and profitability,” he claimed.
Tan additionally said that it became critical for the banking enterprise to better harness the electricity of analytics to make proactive hazard selections.
“A financial institution’s technique to facts control have to be holistic and unified, as data silos prevents the flow of facts, thereby precluding employees and executives view of a whole image,” he said.
When a financial institution defines its threat profile and related risk limits on the organisational, enterprise and product degrees, the price derived from the ones relies upon on whether or not they can be accessed seamlessly by company, retail funding banking enterprise gadgets and corporate threat management, which monitors adherence to the group’s threat urge for food, in step with Tan.
“Another location of relevance to banks could be fraud detection and prevention. SAS has partnered with a number of the sector’s leading worldwide banks to offer SAS Fraud Management wherein 100% real-time processing, scoring and choice-making on all types of financial transactions are doable.
“This can appreciably lessen the quantity of fake alarms at the same time as enhancing fraud detection,” he stated.
Silverlake Group has also adopted SAS Visual Analytics, a massive information visualisation tool.
“This device permits banks to have a real-time view of its enterprise on internet and cellular devices,” stated Goh.
Banks accounted for 17% of extra than 1,400 SAS Visual Analytics licences offered globally in 2013, more than some other industry, in line with SAS.
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