HSBC chooses SAS® for its single global solution
Monday, June 8th, 2009SAS improves protection for HSBC customers by expanding SAS Fraud Management capabilities
LONDON (May 26, 2009) – HSBC has chosen SAS®Fraud Management , the real-time fraud detection system and part of the SAS Fraud Framework, as its principal solution for fraud management across its global network. HSBC and SAS are working together to expand SAS Fraud Management’s capabilities, beyond protecting against credit and debit card fraud, to provide a comprehensive approach to combating fraud across multiple lines of business and channels. These enhanced capabilities will enable the bank to monitor activity at the customer, account and channel level. This will result in further protection against branch banking, bank transfer and on-line payment fraud, as well as internal fraud, and represents part of SAS’ continuing investment in helping financial institutions to reduce fraud.
HSBC will continue to benefit from enhanced reporting and rule writing capabilities, resulting in greater detection rates and continued reduction of false positive rates. By monitoring behaviour at the customer level, the bank will gain more streamlined and efficient use of its investigative resources. HSBC will continue to use SAS’ alert management, routing and queue prioritisation software to maximise efficiencies and allow the highest priority alerts to be worked on quickly.
