Financial Crimes Investigators More Agile, Efficient with Latest Case Management Solution from SAS

BB&T to implement solution within their enterprise risk management programs

CARY, N.C.--(BUSINESS WIRE)-- Financial crimes continue to be on the rise in industries such as banking, insurance, government and health care, where speed and efficiency are critical to track down and stop offenders. The latest version of SAS^® Enterprise Case Management provides more power, flexibility and task automation to accelerate fraud investigations without relying on IT support and time frames. A component of the SAS Enterprise Financial Crimes Framework, the enterprise case management solution streamlines processes and investigations, helping to reduce costs and improve fraud prevention. This framework is layered on top of the latest 9.2 platform from SAS, the leader in business analytics software and services.

“Besides contributing to risk management, today's leading case technologies can also help institutions tie their policies to operational performance, reduce operating costs, and even grow the business,” said Rodney Nelsestuen, Senior Research Director at TowerGroup. “Since the management of financial crime cases is time-sensitive and critical, and can easily overwhelm organizations that lack automation, case management solutions should be designed to provide investigators with a convenient way to handle cases efficiently.”

BB&T (NYSE: BBT) – one of the top US financial holding companies with more than $157.2 billion in assets – will be implementing SAS Enterprise Case Management to enhance its risk management process. BB&T is familiar with SAS software and uses it for customer intelligence, anti-money laundering and credit risk management.

Unveiled at the end of 2009, the newest SAS Enterprise Case Management now includes enhancements such as historical versioning, social network analysis integration, Web service search and event notification. With historical versioning, investigators can easily see up-to-the minute changes made in the case system from previous versions. Investigators save time by eliminating manual review between versions and also have an audit trail to track key changes such as phone number, e-mail address, address, etc.

Using social networking analysis visualizations and functionality, SAS Enterprise Case Management will help users easily view networks of individuals related to the case and to provide richer information and a more holistic view of the customer. Automated network visualizations provide investigators a better understanding of alerts involving possible crimes across multiple product lines or organized crime rings, revealing critical information to a larger case which may have been overlooked otherwise.

The new event notification feature helps investigators out in the field to receive an e-mail or text message on case changes, keeping them abreast on progress and able to focus on relevant information. To prevent duplicate replications of subjects, SAS Enterprise Case Management will automatically search the database via Web service and avoid identical subject names, increasing efficiency and accuracy within investigations.

Case management, the backbone of documenting investigations, provides information for financial reporting, such as fraud losses, and is the primary resource for filing regulatory reports to government agencies. In addition, the disposition of cases under investigation is a critical element to enhance future monitoring and overall operational efficiencies of the organization.

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Source: SAS