SAS named category leader in model risk management 2024

Chartis Research has named SAS a category leader in its Model Risk Management Solutions 2024 report, marking the 11th consecutive year SAS has received the highest rating.

The report highlights SAS as a category leader in two quadrants, with the company attaining the top score for model governance solutions amongst all evaluated vendors.

Sid Dash, Chief Researcher at Chartis, commented on the changing landscape of the model governance sector. "The model governance sector is changing, as it adapts to the growing salience of AI models and greater integration with adjacent areas," he said. "As these shifts occur, SAS continues to be a market leader in the field - as reflected in its rating in our Model Risk Management quadrants."

SAS has been recognised as best-in-class in the model governance solutions quadrant across five separate criteria, including model coverage, governance, data management, model inventory, and dashboarding.

In addition to its achievements in model governance, SAS has also earned best-in-class ratings in model validation solutions and services (credit), notably for supporting tools and methodological frameworks and structure.

Chartis credited SAS with a "forward-thinking approach to managing models across traditional and emerging domains," addressing both classical aspects of governance and the modern demands of AI and generative AI governance. The firm's analysis highlighted "advanced capabilities in ModelOps, SecurityOps, DevOps, orchestration and big data management."

SAS was noted for its critical role within banking institutions, serving both risk and accounting functions as a supplier of credit models and tools. This integration, according to Chartis, positions SAS as a reliable partner for institutions enhancing their model validation capabilities.

The report further commended SAS for providing end-to-end solutions that align with existing infrastructures, covering the lifecycle from development to ongoing validation.

SAS's expertise in retail credit and anti-fraud was also praised. "This depth of experience gives SAS a clear advantage," the analyst firm stated, highlighting the importance of SAS's tools amidst increasing regulatory demands and complex governance frameworks.

Within the model validation category, SAS's reputation for building credit models was identified as long-standing, with its analytical accelerators and solid data infrastructure noted as market differentiators.

SAS's recognition in the Chartis MRM report comes amid its broader achievements in risk management, which have gained momentum since the company's acquisition of Kamakura in 2022. Recently, SAS secured the No. 2 spot in the Chartis RiskTech100 for a second year in a row.

In another accolade, Chartis named SAS a category leader in all six quadrants of its ALM Solutions 2024 report, with the highest vendor score for overall completeness in the ALM solutions quadrant.

"In this rapidly intensifying regulatory environment, there may not be a better time to be a category leader in MRM technology," stated Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions at SAS. "This latest recognition shows that SAS is driving thought leadership in risk management, and its technology is only getting stronger. SAS offers both the experience and best-in-class technology to manage internal and external data and integrate with firms' existing frameworks, ensuring a cohesive approach across all model governance efforts."