SAS Software launch suite to bank

SAS Software (Thailand) managing director Kwanchai Lertchurushan said the Enterprise Risk Management suite will help banks in maintaining integrated, comprehensive, data management and a transparent environment, enabling them to handle the entire process - from identifying risks, measuring, mitigating to monitoring it on an ongoing basis.

The suite comes with six solutions including operational-risk management, anti-money laundering  measures, market-risk assessment, asset-liability management, fraud and credit-risk solutions to manage the risk involved in banking. The suite is also embedded with risk management for everyday processes at all levels in the organisation in order to drive business evolution.

"I think that enterprise-risk management is important for banks to manage their risks. We offer proven solutions, a reference site and expert support teams to provide, which help build trust among our customers," Kwanchai said.  He said the company this year expects sales growth of 30 per cent from last year. 

A global survey by The Economist Intelligence Unit of 316 financial services executives showed that more than 70 per cent of respondents believed the losses stemming from the credit crisis were largely due to failures in tackling risk-management issues.

Executives now appear to be paying attention, with 59 per cent of survey respondents saying the credit crisis has prompted them to scrutinise their risk-management practices in greater detail. In anticipation of closer scrutiny from regulators, many institutions are revisiting their risk-management practices.

In addition, recent reports by the Financial Stability Forum and the Institute for International Finance are now calling for closer scrutiny of the risk-management process.