SAS is expanding the definition of “arboretum” with a process the global software firm developed to help predict financial fraud.
The U.S. Patent and Trademark Office responded by granting SAS a patent for its “Computer-Implemented Predictive Model Generation Systems and Methods.”
SAS calls the process a “self-organizing neural network arboretum” modeling system that helps banks and financial institution track credit scores on demand,
Financial customers worldwide use the SAS process as part of SAS Fraud Management and SAS Enterprise Financial Crimes Framework for Banking.
“Banks will be able to better protect themselves and their customers against fraudsters using these advanced techniques,” said Revathi Subramanian, the primary patent inventor who also is the research and development director in SAS’ Fraud Modeling Department. “This patent is a demonstration of SAS’ continued commitment to innovation and reinvestment that makes it one of the foremost business analytics companies in the world.”
Here’s how SAS describes the process:
“A ‘score-on-demand’ process helps card issuers obtain updated scores based upon the passage of time. The SAS solution provides the creation of risk-based reason factor groups, giving an organization’s fraud operations and analytics groups more insight and context to the risks and reasons behind the model score – optimizing responses and automating actions to a high-scoring transaction.”
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