SAS Risk Management for Banking SAS


Overview


SAS is a global business analytics software and services player of which risk management is one part. The vendor has been a commercial entity since 1976 (it had educational roots) and, it claims, has grown to become the world’s largest privately held pre- packaged software company. It reported a worldwide revenue figure in 2010 of $2.43 billion, with this increasing steadily, to $3.24 billion in 2017 (with banking contributing over one quarter of revenue). The company claims around one-quarter of the revenue is reinvested in R&D each year, of late with a focus on expanding its offerings into new areas such as cloud computing, unstructured data and grid computing. SAS employs 14,175+ people (with a very low turnover rate) across more than 400 offices in 56 countries. It has a huge number


of global alliances, listing its key technology partners as Hewlett-Packard, IBM, Intel, Oracle and Teradata. Key consulting partners are the likes of Accenture, Capgemini, CSC, Comsys, Deloitte, IBM and Wipro. Key applications partners include Amdocs and ESRI. SAS technology – a mix of everything it offers, including risk – is installed in 139 countries, with more than 50,000 business, government and university customer sites. Its banking client list (drawn from all product divisions) includes the likes of HSBC, ICICI Bank, Bank of America Merrill Lynch, Scotiabank, Pohjola Bank (formerly OKO Bank), Royal Bank of Canada, Credit Suisse, Ceska Sporitelna (Erste Grooup) and China Merchants Bank.


Company origins


The initials S-A-S originally stood for ‘statistical analysis system’, referring to its origins in North Carolina State University’s (NCSU) statistics unit as an agricultural research project set up in the mid-1960s. As part of a consortium with a number of other southern universities, each funded in the main by the United States Department of Agriculture, these units came together under a grant from the National Institutes of Health (NIH) to develop statistical software that could analyse all the agricultural data they were generating. The architecture of the resulting statistical analysis system had actually been conceived by Anthony Barr in 1966, placing statistical procedures into a formatted file framework. By 1968, NCSU statistics doctorate, Jim Goodnight, had come on board as co-leader of the project, writing and expanding the features that sat on top of Barr’s architecture. Goodnight remains with SAS to this day, currently as CEO. When NIH funding ended in 1972, the consortium members each agreed to pay in an annual sum of $5000, enabling NCSU to continue developing the system. By 1976, the product had become commercially viable, with customers being drawn from a spread of verticals, including pharmaceuticals, banking, academia and government. Barr and Goodnight were joined soon after as part of the core team by Jane Helwigz (one of Goodnight’s contemporaries at the NCSU statistics department), and John Sall (who remains as SAS executive vice president).


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