The most complete financial crime detection system to date

CUSTOMER STORY The most complete financial crime detection system to date Laurentian Bank takes the lead in financial crime detection and prevention Serge Desrosiers, René Trépanier, Audrey Orval, Martin Latulippe ■ Industry Laurentian Bank of Canada is a banking “This is a first for both Laurentian Bank Banking institution with operations across the and SAS. We are working jointly with the country. Founded in 1846, it manages experts at SAS to perfect this system ■ Business Issue more than $24 billion in balance sheet and make it a reality; it will redefine the Efficiently implement new pro- assets and currently employs over standards within our industry,” explained cesses to fight financial crime, 3,800 people. The bank serves Trépanier. increasing security for the bank’s individuals and small and midsized operations. businesses. It also offers its products to This integrated system is based on a vast network of independent financial three critical components: intermediaries through B2B Trust and ■ Solution • SAS® Anti-Money Laundering provides full-service brokerage services SAS® Anti-Money Laundering through Laurentian Bank Securities. • SAS® Enterprise Case Management Laurentian Bank is firmly established in • SAS® Fraud Framework SAS® Enterprise Case Management Quebec, where it operates the third- largest retail branch network in the Developing this new system has not SAS® Fraud Framework province. been without its challenges – it is the first time these three solutions have ■ Benefits Laurentian Bank has been experiencing been combined. Even though each of major growth in the past several years. these solutions has proven its individual • The first bank to use these Its loan and deposit volumes have effectiveness, using them together is an products together, making it a increased significantly, and its net innovation requiring certain adaptation. true leader in the fight against income has been breaking new records “Our team and the SAS team are financial crime in Canada. for the past four years. “Our competitors working hand in hand on this project. know us for our flexibility and our agility, The SAS expertise will allow us to be the • Faster, more effective detection qualities that let us react quickly and pioneers in the industry. Our data of attempted fraud. allow us to, among other things, creates a virtual incubator for SAS, efficiently implement new processes to allowing it to make the solution a reality, fight financial crime, thereby securing to model it, and then to transfer it to the our constantly growing operations,” said entire industry,” stated Trépanier. René Trépanier, Vice President, Compliance, Operational Security. By combining three solutions from the SAS® Enterprise Financial Crimes Framework for Banking, Laurentian Bank is the first bank to use these Identifying potential fraudsters and products together, making it a true criminals constitutes a large part of leader in the fight against financial crime financial crime detection. Combining the in Canada. solutions provides a better overview by using all the databases and a better qualification of alerts, allowing for more efficient and simpler interventions. “Our “Our goal in implementing this system is to quickly obtain an overview of our various business lines so as to better recognize and identify fraudsters.” René Trépanier, Vice President of Compliance, Operational Security goal in implementing this system is to Laurentian Bank chooses SAS® for its ourselves at the forefront of the financial quickly obtain an overview of our business intelligence solutions crime detection and prevention industry various business lines so as to better Laurentian Bank is already using SAS in while developing a system perfectly recognize and identify fraudsters,” he other areas of activity, mainly for its adapted to our needs. Ultimately, this is added. credit risk and market segmentation how we will best protect our clients,” operations. “We have developed said Trépanier. A swift, scalable system business ties with SAS and have a great When it comes to financial crime, the respect for their competence, meaning speed of detection is crucial. Identifying that we are going into this implementa- initial fraud attempts by criminals helps tion project with confidence. We were save considerable sums of money. By ready to team up with SAS to develop unifying the databases, the SAS this solution, even if that meant not solutions allow for faster, more effective being able to benefit immediately from a detection of attempted fraud. The SAS finished product. From the outset, we systems also stand out for their flexibility had full confidence in SAS products and and scalability by making use of expertise, and we have seized this collected data and trends regarding wonderful opportunity to position potential fraud. SAS Institute Inc. World Headquarters   +1 919 677 8000 To contact your local SAS office, please visit: www.sas.com/offices 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. 105500_S82064.1211 The results illustrated in this article are specific to the particular situations, business models, data input, and computing environments described herein. Each SAS customer’s experience is unique based on business and technical variables and all statements must be considered non-typical. Actual savings, results, and performance characteristics will vary depending on individual customer configurations and conditions. SAS does not guarantee or represent that every customer will achieve similar results.