Allied Bank has entered into an agreement with SAS, the provider of business analytics software and services, to establish an enterprise-wide risk framework to help meet regulatory requirements such as Basel II, enhance its credit ratings and build up the bank’s consumer portfolio.
The solution is a cutting-edge analytical tool for risk management, customer segmentation and behavioral scoring to help meet the sophisticated data management and reporting requirements under Basel II. In addition to complying with Basel II regulation, banks are looking for ways to also achieve business benefits within a comprehensive risk management program.
Allied Bank chose a combination of SAS Customer Intelligence and SAS for Enterprise Risk Management solutions as well as SAS Enterprise BI Server. SAS says that the bank will have an enhanced automated reporting system which will enable it to launch and manage more consumer products in less time and reduce overall costs. The system will help the bank to retain current customers and acquire new ones.
Fareed Vardag, Chief Risk Officer of Allied Bank, said: “SAS has been highly recommended by local and globally located references. It offers a fully integrated solution that houses both risk and consumer solutions driven by extensive analytics,” and added: “We, therefore, anticipate a quick return on our investment and an overall low cost of ownership.”
“Allied Bank strives to adopt the latest advancements in an ever-changing technological environment. In line with our technological upgrade plans, we are delighted to initiate the process of deploying a suite of risk management solutions from one of the leading global firms, SAS,” said Mohammad Aftab Manzoor, CEO of Allied Bank.
