Global bank HSBC, which is headquartered in London, is developing an anti-fraud system based on SAS business intelligence...
software. The product will be rolled out from next summer, with the first deployment in the US.
The company, which has 115 million credit and debit cards in circulation, is looking for a faster and cheaper way to run card fraud searches. George Lennox, manager, group credit and risk at HSBC, said, "We want to reduce fraud and interruptions at the point of sale."
The bank uses a common card system across its global organisation which was developed in 1992 and is run from three computer centres in the UK, US and Hong Kong.
Lennox said the work with SAS should enable faster and cheaper card checks that use less disc space.
HSBC has provided SAS with card information that will be used to build data models for fraud. Tests are due to commerce on the system in February 2006 in Chicago.