Financial crimes continue to be on the rise in industries such as insurance and healthcare, where speed and efficiency are critical to
track down and stop offenders. The latest version of
SAS Enterprise Case Management provides power, flexibility, and task automation to accelerate fraud investigations without relying on IT support and time frames.
A component of the SAS Enterprise Financial Crimes Framework, the enterprise case management solution streamlines processes and investigations, helping to reduce costs and improve fraud prevention. This framework is layered on top of the latest 9.2 platform from SAS.
“Besides contributing to risk management, today’s leading case technologies can also help institutions tie their policies to operational performance, reduce operating costs, and even grow the business,” says Rodney Nelsestuen, senior research director at TowerGroup. “Since the management of financial crime cases is time-sensitive and critical, and can easily overwhelm organizations that lack automation, case management solutions should be designed to provide investigators with a convenient way to handle cases efficiently.”
The newest SAS Enterprise Case Management includes enhancements such as historical versioning, social network analysis integration, Web service search, and event notification. With historical versioning, investigators can see up-to-the minute changes made in the case system from previous versions. Investigators save time by eliminating manual review between versions and also have an audit trail to track key changes such as phone number, e-mail address, address, etc.
Using social networking analysis visualizations and functionality, SAS Enterprise Case Management will help users easily view networks of individuals related to the case and to provide richer information and a more holistic view of the customer. Automated network visualizations provide investigators a better understanding of alerts involving possible crimes across multiple product lines or organized crime rings, revealing critical information to a larger case which may have been overlooked otherwise.
The new event notification feature helps investigators out in the field to receive an e-mail or text message on case changes, keeping them abreast on progress and able to focus on relevant information. To prevent duplicate replications of subjects, SAS Enterprise Case Management will automatically search the database via Web service and avoid identical subject names, increasing efficiency and accuracy within investigations.
Case management, the backbone of documenting investigations, provides information for financial reporting, such as fraud losses, and is the primary resource for filing regulatory reports to government agencies. In addition, the disposition of cases under investigation is a critical element to enhance future monitoring and overall operational efficiencies of the organization.