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Chartis Research names SAS a category leader for CECL technology solutions
[June 21, 2018]

Chartis Research names SAS a category leader for CECL technology solutions


CARY, N.C., June ­­­21, 2018 /PRNewswire/ -- The risk and compliance technology-focused research and advisory firm Chartis Research has named SAS a category leader in its CECL Technology Solutions 2018 FinTech Quadrant™.

SAS® Expected Credit Loss software is a comprehensive, modular platform that efficiently supports the overall calculation and reporting process – from data management, modeling and impairment estimation to forecasting, accounting and reporting. In addition, SAS' Regulatory Content for CECL provides specific CECL modeling and reporting templates that can accelerate implementation.

"The complexity of CECL presents major challenges from both a compliance and a production efficiency perspective," said Rob Stubbs, Head of Research at Chartis. "SAS is well placed to help organizations implement strong controls and bridge the data and reporting requirements necessary for both risk and finance departments."

CECL, which takes effect in stages beginning January 2020, requires any institution holding assets at amortized cost – such as banks, insurers, credit unions and specialty lenders – to establish an allowance for credit losses based on the expected lifetime loss of each loan in its portfolio, rather than based on incurred losses.

SAS Expected Credit Loss is a foundational risk analytics and execution platform that is bein deployed for CECL, and it is already being used by financial institutions across the globe in support of the IFRS 9 accounting standard and stress testing.



CECL Technology Solutions 2018 is the first vendor assessment report that Chartis has published on CECL solutions. It uses Chartis' FinTech Quadrant methodology, which takes into account vendors' technology, product and organizational capabilities while emphasizing the completeness of their offerings and their market potential.

"We're honored to be recognized by Chartis for helping banks meet the computational challenges of the new CECL standards," said Troy Haines, Senior Vice President and head of the risk management division at SAS. "The SAS solution provides centralized, flexible, high-performance analytics to help financial institutions efficiently meet the challenges of expected loss modeling, while advancing their risk management and financial reporting capabilities."


SAS also earned a category leader position in Chartis' Technology Solutions for Credit Risk 2.0 2018. The report assesses technology solutions for the new credit risk environment that Chartis refers to as Credit Risk 2.0.

Credit Risk 2.0 uses Chartis' RiskTech Quadrant® to explain the structure of the market. The RiskTech Quadrant uses a comprehensive methodology of in-depth independent research and a clear scoring system to explain which technology solutions meet an organization's needs.

About Chartis

Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. Chartis' goal is to support enterprises as they drive business performance through improved risk management, corporate governance and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.

RiskTech Quadrant®, RiskTech100® and FinTech QuadrantTM are registered trademarks of Chartis Research (http://www.chartis-research.com).

About SAS

SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2018 SAS Institute Inc. All rights reserved.

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SOURCE SAS


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