SAS Supports Al Rajhi Bank with AML solutions
SAS completed the shortest Anti-Money Laundering services implementation in KSA
Business analytics software and services provider SAS, announced today the completion of the SAS Anti-Money Laundering (AML) solution project in Saudi Arabia with Al Rajhi Bank.
The solution took less than four months to be implemented and it incorporates enhancements to help the financial institution combat money laundering, by delivering high-performance analytics and multiple detection methods to monitor risks in very large data volumes instantly.
"The AML solution offers an integrated and open-ended architecture to Al Rajhi Bank that allows the leading Saudi bank to gather information across data sources. The collected information is instantly relayed into real intelligence which can detect suspicious activities and accurately alert the investigators and authorities," said Marcel Yammine, country manager at SAS Saudi Arabia.
SAS Anti-Money Laundering solution is a solution that consolidates information from all areas of a financial business, manages and refines that information, and turns it into usable knowledge that will help a business automatically identify and classify suspicious behavior.
"SAS is pleased to partner with Al Rajhi Bank to further enhance the quality of the banking system in the Kingdom. The implementation was managed by a highly skilled bilingual team based on site in the Riyadh head office. By providing our AML solutions we hope to support Al Rajhi Bank in their aim to monitor transactions and detect any illicit activity," said Shukri Dabaghi, general manager at SAS Middle East.