SAS Secures Fraud Detection Performance Technology Patent
The patent approval is for "Computer-Implemented Predictive Model Generation Systems and Methods" (US patent 7,788,195 B1).
Business analytics software and service provider, SAS, has received patent approval for Computer-Implemented Predictive Model Generation Systems and Methods (US patent 7,788,195 B1) as related to technology at the heart of SAS Fraud Management. As noted in this news release on Business Wire, SAS Fraud Management is an integral component of the SAS Enterprise Financial Crimes Framework for Banking.
"SAS Fraud Management offers significant improvement in fraud detection performance compared to the performance of regular, non-linear modeling techniques like neural networks. A 'score-on-demand' process helps card issuers obtain updated scores based upon the passage of time. The SAS solution provides the creation of risk-based reason factor groups, giving an organization's fraud operations and analytics groups more insight and context to the risks and reasons behind the model score - optimizing responses and automating actions to a high-scoring transaction."