ORRF Risk Research Forum

FinServ Forecast 2024: 12 technology and trend predictions

Retrieved on: 
Thursday, December 7, 2023
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CARY, N.C., Dec. 7, 2023 /PRNewswire/ -- As in other industries, the explosion of generative AI has forced the financial services sector to quickly adapt while riding a wave of regulatory and ethical questions. How will banks, insurers and other financial firms balance the risks and rewards of GenAI and other transformative tech in the year ahead? Experts from AI and analytics leader SAS foresee a mix of successes and failures as the industry sprints to meet consumer and stakeholder expectations.

Key Points: 
  • Yet less than a third said their firms have fully automated data sharing between ALM and other risk or business functions.
  • – Donald van Deventer, Managing Director of Risk Research and Quantitative Solutions, SAS
    "Even as consumers signal increased fraud vigilance , generative AI and deepfake technology are helping fraudsters hone their multitrillion-dollar craft.
  • In 2024, the advance of generative AI technology will bring insurers, banks and businesses in other industries closer to that reality.
  • Visit SAS' 2024 AI predictions page for more forecasts and trends across industries and opportunities to connect.

AI reality vs. myth: Twelve predictions from SAS for 2024

Retrieved on: 
Thursday, November 30, 2023
Dark, Well, The Things, Artificial intelligence, Safety, Climate change, Senior, Engineering, Organization, Internet of things, Synthetic media, Forecasting, Virtual reality, Civilization, Fallibilism, Drug, Internet, APP, Algorithm, SAS, Marketing, City, Advertising, ORRF Risk Research Forum, Health, COVID-19, Risk assessment, 3D, Bias, VR, Public health, Dark Ages (historiography), Government, Human, Public, Management, Medical device, Fraud, Risk, AI

CARY, N.C., Nov. 30, 2023 /PRNewswire/ -- Artificial intelligence (AI) is everywhere. And stories are rampant about its promise and its threat. Will AI's potential be realized in the year ahead? SAS, the leader in AI and analytics, asked executives and experts across the company to predict trends and key business and technology developments in AI for 2024. Below are some of the predictions they shared.

Key Points: 
  • SAS, the leader in AI and analytics, asked executives and experts across the company to predict trends and key business and technology developments in AI for 2024.
  • SAS asked its experts to predict AI trends for 2024.
  • Visit SAS' 2024 AI predictions page for more trends and forecasts.
    "
  • In 2024, organizations will pivot from viewing generative AI as a stand-alone technology to integrating it as a complement to industry-specific AI strategies.

AI reality vs. myth: Twelve predictions from SAS for 2024

Retrieved on: 
Thursday, November 30, 2023
Dark, Well, The Things, Artificial intelligence, Safety, Climate change, Senior, Engineering, Organization, Internet of things, Synthetic media, Forecasting, Virtual reality, Civilization, Fallibilism, Drug, Internet, APP, Algorithm, SAS, Marketing, City, Advertising, ORRF Risk Research Forum, Health, COVID-19, Risk assessment, 3D, Bias, VR, Public health, Dark Ages (historiography), Government, Human, Public, Management, Medical device, Fraud, Risk, AI

CARY, N.C., Nov. 30, 2023 /PRNewswire/ -- Artificial intelligence (AI) is everywhere. And stories are rampant about its promise and its threat. Will AI's potential be realized in the year ahead? SAS, the leader in AI and analytics, asked executives and experts across the company to predict trends and key business and technology developments in AI for 2024. Below are some of the predictions they shared.

Key Points: 
  • SAS, the leader in AI and analytics, asked executives and experts across the company to predict trends and key business and technology developments in AI for 2024.
  • Visit SAS' 2024 AI predictions page for more trends and forecasts.
    "
  • In 2024, organizations will pivot from viewing generative AI as a stand-alone technology to integrating it as a complement to industry-specific AI strategies.
  • – Dr. Meghan Schaeffer, National Public Health Advisor and Epidemiologist, SAS
    This spring, you can talk with SAS executives about their predictions and explore the latest in AI and analytics.

SAS awarded IFRS 17 solution of the year by Asia Risk Awards

Retrieved on: 
Monday, November 27, 2023
ALM, Data management, Acquisition, Senior, Risk management, Projection, Risk, Insurance, Ecosystem, SAS, Kamakura Corporation, ORRF Risk Research Forum, GUI, American International Group, Growth, Configuration, Satellite navigation device

CARY, N.C., Nov. 27, 2023 /PRNewswire/ -- SAS has been awarded IFRS 17 solution of the year for 2023 by the Asia Risk Awards. Recognizing "...solutions providers that serve financial services firms in meaningful and innovative ways," the Asia Risk Awards are the longest-running awards program for firms involved in risk management in Asia.

Key Points: 
  • CARY, N.C., Nov. 27, 2023 /PRNewswire/ -- SAS has been awarded IFRS 17 solution of the year for 2023 by the Asia Risk Awards.
  • Recognizing "...solutions providers that serve financial services firms in meaningful and innovative ways," the Asia Risk Awards are the longest-running awards program for firms involved in risk management in Asia.
  • The Asia Risk Awards win caps a year of recognition of SAS' newly enriched and expanded risk management offerings.
  • "SAS' IFRS 17 solution is shaped by insurance and risk practitioners on the front lines of a new era of compliance.

RiXtrema to Launch RemAI, an AI Tool with the Power to Revolutionize Research, Communication, and Trading in Financial Markets

Retrieved on: 
Wednesday, November 1, 2023
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NEW YORK, Nov. 1, 2023 /PRNewswire/ -- RiXtrema, a New York-based pioneer in developing innovative tools for financial analysis and communication through the use of machine learning (ML), artificial intelligence (AI), and data science, is about to announce the launch of its newest AI product, RemAI. RemAI has the power to revolutionize research, communication, and trading in financial markets.

Key Points: 
  • RemAI has the power to revolutionize research, communication, and trading in financial markets.
  • With its wide scope, RemAI is not just for financial advisors, but also plan advisors, asset managers, and day traders.
  • An expert specializing in financial modeling and machine learning for financial advisors and wealth managers, Daniel Satchkov is the President of RiXtrema, Inc.
  • Satchkov holds Bachelor of Science and MBA degrees from the University of the Pacific and has spoken at numerous financial conferences.

SAS climbs to No. 2 in the prestigious Chartis RiskTech100

Retrieved on: 
Tuesday, October 17, 2023
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CARY, N.C., Oct. 17, 2023 /PRNewswire/ -- Continuing its year-over-year march up the world's foremost ranking of the Top 100 risk management and compliance technology providers, SAS earned the No. 2 spot in the Chartis RiskTech100® for 2024. SAS also bested seven technology award categories, including:

Key Points: 
  • Bringing it to life on cloud-native SAS® Viya® is among the factors reflected in SAS' RiskTech100 position."
  • The Chartis RiskTech100 is globally recognized as the most comprehensive independent examination of the world's major risk and compliance technology players.
  • Among its 2023 technology evaluations to date, Chartis has recognized SAS in the following:
    Chartis RiskTech Quadrant® for Know Your Customer (KYC) Solutions, 2023 – SAS named a Category Leader.
  • (April 2023)
    Chartis RiskTech Quadrant for Model Validation Solutions, 2023 – SAS named a Category Leader in the quadrant for Credit.

Dow Jones Risk & Compliance Launches RiskCenter Advanced Screening and Monitoring

Retrieved on: 
Tuesday, September 19, 2023
Risk, Partnership, ASAM, Dow Jones & Company, The Wall Street Journal, Dow Jones, Risk management, ORRF Risk Research Forum, Factiva, Organization, Name, AML, Publication, AI, News, Automation, Cryptocurrency

NEW YORK, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Dow Jones Risk & Compliance has today announced a new advanced, AI-powered solution for financial crime and third-party risk management.

Key Points: 
  • NEW YORK, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Dow Jones Risk & Compliance has today announced a new advanced, AI-powered solution for financial crime and third-party risk management.
  • RiskCenter Advanced Screening and Monitoring (ASAM) uses best-in-class risk data, cutting-edge machine learning and AI technologies to optimize anti-money laundering (AML), sanctions and anti-corruption compliance.
  • “As the legislative landscape becomes increasingly complex, organizations need to be able to identify and evaluate risk quickly and effectively,” said Joel Lange, general manager of Risk & Research at Dow Jones.
  • Dow Jones will expand its suite of compliance-ready, AI-powered risk management tools over the next 12 months as it continues to invest in advanced AI, generative AI and automation for the compliance sector.

SAS helps banks tackle risk in the cloud

Retrieved on: 
Tuesday, September 19, 2023
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CARY, N.C., Sept. 19, 2023 /PRNewswire/ -- As financial firms maneuver the continued fallout of recent bank failures, analytics and AI leader SAS is expanding its partnership with Microsoft to help banks better manage looming liquidity and interest rate risks. SAS® Asset and Liability Management (ALM), powered by Kamakura Risk Manager on Microsoft Azure, supports multi-period, scenario-based, integrated simulation and valuation for risk management, capital allocation and balance sheet optimization.

Key Points: 
  • SAS® Asset and Liability Management (ALM), powered by Kamakura Risk Manager on Microsoft Azure, supports multi-period, scenario-based, integrated simulation and valuation for risk management, capital allocation and balance sheet optimization.
  • SAS ALM on Microsoft Azure arms banks with powerful AI and analytics to manage liquidity and interest rate risks.
  • Partnering with Microsoft to accelerate risk innovation in the cloud, we broaden our mutual reach and impacts, helping banks, insurers and other financial industry players mitigate and minimize risk in this persistently uncertain climate."
  • Register to download The balance sheet risk conundrum, a joint ALM white paper by SAS and Microsoft.

SAS an asset liability management technology leader, per Chartis

Retrieved on: 
Tuesday, August 8, 2023
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CARY, N.C., Aug. 8, 2023 /PRNewswire/ -- Chartis Research has recognized SAS as an asset liability management technology (ALM) category leader. SAS earned this prestigious designation in all four RiskTech Quadrants of Chartis's recently published report ALM Technology Systems, 2023: Market Update and Vendor Landscape:

Key Points: 
  • CARY, N.C., Aug. 8, 2023 /PRNewswire/ -- Chartis Research has recognized SAS as an asset liability management technology (ALM) category leader.
  • SAS earned this prestigious designation in all four RiskTech Quadrants of Chartis's recently published report ALM Technology Systems, 2023: Market Update and Vendor Landscape:
    ALM solutions .
  • Among SAS' key FTP strengths, according to the Vendor Analysis, "SAS provides models that can reflect a range of cashflow profiles, term structures and optionality [for profitability analysis].
  • "SAS' strong showing in Chartis's latest analysis of ALM technology vendors reflects how its vision is coming to fruition," said Sidhartha Dash, Research Director at Chartis.

Survey: Risk pros sound alarm on asset liability management readiness

Retrieved on: 
Tuesday, June 27, 2023
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CARY, N.C., June 27, 2023 /PRNewswire/ -- The sudden fall of Silicon Valley Bank (SVB) in March was a staccato siren shattering a period of relative calm in the financial services industry. Between 2015 and 2022, bank failures averaged less than four per year – with none at all in 2021 and 2022. SVB's ripple effects have intensified attention on asset liability management (ALM), a long-overlooked facet of risk management. How financial firms are adapting is the subject of a new ALM research study by Celent, sponsored by analytics leader SAS.

Key Points: 
  • SVB's ripple effects have intensified attention on asset liability management (ALM), a long-overlooked facet of risk management.
  • SAS.com/almstudy
    The resulting report, Modernizing Asset Liability Management, is based on a global survey of 266 risk-focused finserv professionals in 22 countries.
  • Most firms (80%) are considering significant improvements to their ALM functions, although planned investments vary by firms' asset size.
  • Join risk experts from SAS, Celent, GARP and American AgCredit on demand to probe:
    Essential analytic capabilities and must-have functionalities.