Can I safely assume this is SAS fraud framework?
https://www.cnn.com/2024/10/17/business/ai-fraud-treasury/index.html
8 replies (most recent on top)
I remember squirming uncomfortably during a customer presentation a few years ago, while someone in sales presented a scenario about a real fraud case that was detected and prosecuted, all the while creating the illusion that SAS software was used in the discovery, etc.
It was not.
They were VERY careful not to every say it was, but boy, they gave every illusion or insinuation that it was.
Calm down Stu.
Check out the SAS Fraud Management landing page, it's very telling...
https://www.sas.com/en_us/software/fraud-management.html
What does that screenshot show? It appears to be a visualization showing IP addresses and account types, and it's completely and utterly meaningless.
Scroll to the second and third screens, and it's just as bad. These are supposedly alerts, but with no indication of why the alert was triggered. If this is powered by AI, where's the model explanation? What were the factors that triggered the alert? There's nothing there.
And it's all wrapped up in a UI made up of grey boxes with little 3D-style frames that looks like it has been lifted straight out of 1995. The only remotely modern element is the header.
Who on earth would buy this? This is so obviously dinosaur technology, with a feeble attempt to bring it into the 21st century by plonking it into an iFrame inside an HTML5 wrapper.
If this is the best the SAS engineers can do these days, no wonder it's a dying company.
SAS Fraud Framework is an absolute joke of a product. I helped sell it twice...both times it was an abject failure.
The much vaunted network analytics (PROC HPENG) was completely unscalable because it couldn't do incremental updates like many of the competitors, and the case management capabilities were virtually non-existent.
SAS thinks SAS is a player in fraud detection.
SAS thinks SAS is a player in AI.
Nobody else does.
"You can't assume it's SAS Fraud software they're using."
Are you kidding. Have you read this site. It is 49% assumptions and 51% bullsh-t.
It’s open source models. Nobody uses SAS anymore lol
You can't assume it's SAS Fraud software they're using. The article does not mention SAS or anyone else specifically. It would be nice if they use SAS but we can't assume it. SAS has a lot of competition in this space (fraud and AI/ML) that it is hard to compete.
I think SAS Fraud is used in some banking systems but how many uses it, we don't know and how well it's doing we don't know either (well, SAS CEO and CFO would know but others not so much).
I asked these questions on Google and the answers don't even list SAS. It makes me sad that SAS Fraud isn't prominent out there.
Q: What companies make fraud detection software?
A: Some companies that make fraud detection software include: Feedzai, Kount, Sift, SEON, ClearSale, ComplyAdvantage, LexisNexis Risk Solutions (including ThreatMetrix), Forter, Onfido, and Fraud.net.
Q: What are the best companies that make fraud detection software?
(the answers show these fraud detection companies)
A: Kount Inc, Fraud.net Inc, Riskified, Fingerprint, ArkOwl LLC, Emailage Corp, IBM, SEON, Signifyd, Clearsale, SEON.FraidFighters, FaudLabsPro, ComplyAdvantage, FOrter, Sumsub, Sift, Feedzai, ThreatMetrix, Accerfity Inc., CyberSource, Hawk, TruValidate.
(The only big name I recognize is IBM from this list).
and The best fraud detection software and companies in 2024 in
https://complyadvantage.com/insights/best-fraud-detection-software/
list are: ComplyAdvantage, Featurespace, Feedzai, Sardine, Hawk:AI, Onfido, Abrigo, SymphonyAI.