Gartner has placed SAS into the leaders quadrant of the "Magic Quadrant for Basel II Software Applications, 2006".
Currently, more that 140 financial institutions use SAS for credit risk and operational risks management, up 40% from March 2006.
According to the Gartner report, "the leaders quadrant tends to be occupied by vendors with integrated Basel II software application suites covering all the risk disciplines that have achieved a high level of market acceptance.
"These suites contribute to developing a common architectural approach and enable a consistent view of risk across the organization as compared to separately designed and implemented risk-calculation engines or reporting tools.
"Such vendors are beginning to approach the market with a more comprehensive approach to ERM and its linkage to corporate performance management. They have robust organisational structures and professional services resources."
Gartner's report evaluated SAS software's ability to execute and its completeness of vision.
Financial services firms are adopting risk management systems in response to government regulations and industry standards.
Andre Zitzke, solutions specialist at SAS South Africa, comments: “SAS helps its customers to go beyond compliance and manage risk strategically through risk-based performance management. By doing so, firms can derive real business value from their compliance initiatives and exploit risk for maximum competitive advantage. Implementation of regulations such as the Basel II accord should be viewed as a step in the continuing process of improving risk management as part of an overall enterprise wide risk management initiative.”