Chartis Names SAS a Leader in Enterprise Stress Testing Systems
CARY, N.C., April 28, 2017 -- Chartis has recognized SAS software's "completeness of offering" and "market potential" in naming the esteemed analytics provider a category leader in its Enterprise Stress Testing Systems: Market Update 2017.
Driven primarily by regulators – including the US Federal Reserve, European Banking Authority (EBA) and Bank of England – stress testing is considered a very important tool to help assess whether institutions have sufficient capital to absorb losses and support operations during adverse economic conditions. SAS deploys high-performance risk analytics alongside workflow, governance and reporting capabilities to meet stress-testing needs of banks. SAS provides software, advisory services and supplemental data for models, in support of DFAST, CCAR and EBA regulations to provide efficient and transparent processes.
"Regulations aside, stress testing is key to the success and profitability of all aspects of a financial institution's operations," said Hugh Stewart, Research Director at Chartis. "But the process is still fragmented for many banks. Institutions are in need of an integrated solution that meets their stress testing needs both internally and for regulators. SAS meets data management needs and easily merges with existing systems to deliver coordinated, systematic support."
According to Chartis, financial institutions must overcome four broad challenges when implementing stress testing: governance, recruitment, data and modeling. SAS' integrated stress testing capabilities provide flexibility and allow for rapid set-up and deployment of complex models on a single, comprehensive platform. SAS Stress Testing provides solutions for every aspect of stress testing to support transparency across the process.
"Financial institutions need support in undertaking a sustainable process for stress testing," said Tom Kimner, Head of Global Operations for Risk Management at SAS. "Rather than piecing together what's required for regulators from disparate sources, they require a technology solution that breaks down silos and encourages integration for long-term success."
Last month Chartis also named SAS a category leader in Model Risk Governance Solutions 2017 RiskTech Quadrant. In 2016, SAS clinched the No.2 spot in Chartis' prestigious RiskTech100 report annual rankings, including top category wins for innovation, banking, credit risk and Europe.
About Chartis
Chartis is the leading provider of research and analysis on the global market for risk technology and is part of Incisive Media which has market leading brands such as Risk and Waters Technology. Chartis' goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.
About SAS
SAS is the leader in analytics. Through innovative analytics, business intelligence and data management software and services, SAS helps customers at more than 83,000 sites make better decisions faster. Since 1976, SAS has been giving customers around the world THE POWER TO KNOW.
Source: SAS
