KUALA LUMPUR, April 15 (Bernama) -- Global analytics and artificial intelligence (AI) firm SAS Institute Inc seeks to replicate successful risk and compliance strategies from other regional markets to help boost Malaysia’s banking and financial services industry.
Its managing director for Malaysia, Indonesia and Vietnam, Febrianto Siboro, said the company aims to localise proven AI and data analytics capabilities while ensuring Malaysian financial institutions do not have to start from scratch.
“This is part of our strategy, where most of our subject matter experts are on the ground sharing our experiences, including successes and failures.
“We want to ensure that our Malaysian customers, especially those in the banking sector, can benefit from this approach and implement it effectively,” he said during a media briefing here today.
The regulatory frameworks in each country may differ, but the core data requirements remain largely similar, making it possible to transfer knowledge and tools effectively, he said.
He also stressed that the foundation for any effective risk mitigation strategy lies in how well organisations process and derive insights from data, noting that this requires more than just technology.
“If you have the technology and the processes but lack the people to run them, it becomes a problem, which is why we focus on helping customers build internal capabilities,” he said.
Febrianto said that SAS is working with financial institutions to create a single analytics platform for multiple purposes, including revenue generation, regulatory reporting, and operational decision-making.
“We really want to bring a single platform, and we also want to assist customers, including those at the board level, in understanding that regulatory compliance is not just about meeting requirements but also about using the data from these reports to help them make informed decisions,” he added.
-- BERNAMA
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