Infotech Lead Asia: Soneri Bank, a commercial bank in Pakistan, has tapped business analytics software provider SAS to better profitability, establish risk framework and address Basel II requirements.
Soneri Bank — that operates 224 branches, spread all over Pakistan including the Northern Areas of the country — will utilize software like SAS Anti-Money Laundering and SAS Credit Risk Management for Banking to manage enterprise risk and to address financial fraud.
The SAS software is also expected to help the bank improve its ratings and lower finance costs.
Recently, SAS clocked 15 percent sales growth in the global banking industry compared to the same period in 2011. All regions have seen strong new sales, with the US up more than 60 percent, Asia Pacific up almost 30 percent and EMEA up nearly 20 percent compared to 2011. Financial services represent SAS’ largest industry segment by revenue, contributing 40 percent of the total company software revenue of $2.73 billion in 2011.
Recently, the Hong Kong Efficiency Unit has tapped SAS Visual Analytics for insights to better serve population. The project allows the Efficiency Unit to visually examine data on citizens’ complaints, develop insights and find innovative solutions in collaboration with its partner agencies.
Soneri Bank is expected to benefit by using SAS’ analytics, data management and reporting, which are essential for managing risk reporting and creating timely reports on cash leakage.
SAS says the Basel II framework seeks to increase financial stability by better aligning a bank’s regulatory capital to actual risks. Through Basel II supervision and eventual compliance, banks with a lower risk profile are rewarded.
Soneri Bank has integrated SAS for Enterprise Risk Management into its risk management procedures, which had previously been separated from the business lines. Aside from aiming to meet Basel II requirements, the bank is also looking into ways on how to improve on existing business benefits within a comprehensive risk strategy.
“We have chosen SAS for its proven solution expertise, major presence across more than 3,100 financial institutions from around the world and its local reputation for a highly customized solution,” said Haider Devjianie, CIO, Soneri Bank.
“Through the years, Soneri Bank has ably positioned itself as a strong growing bank. Through the use of SAS software, we have not only managed to reinforce our operations but are now fully capable of addressing key challenges like internal data structure requirements. Truly, SAS gives us a big advantage by being so uniquely flexible,” Devjianie added.