Vanquis Bank adopts SAS Viya on Azure for better analytics

Vanquis Bank has announced an upgrade to its digital transformation strategy by adopting SAS Viya on Microsoft Azure to improve risk management and regulatory compliance.

The UK-based institution, known for helping individuals build and improve their credit, aims to enhance its analytics efficiency, particularly concerning the International Financial Reporting Standard 9 (IFRS9). This move marks a significant step in the bank's commitment to providing financial pathways to individuals with limited or poor credit histories.

In light of increasing regulatory requirements and the growing volumes of data, Vanquis sought a modern solution that aligns with its mission. The transition to SAS Viya is expected to enable faster data processing, efficient resource scaling, and reduced cloud computing costs.

SAS Viya's capacity to support both SAS and Python enhances the bank's data science capabilities. The platform's automation features are anticipated to facilitate cost-effective scaling of compute resources, contributing to a streamlined IT infrastructure.

Sangeet Lee-Sarkar, Lead SAS Administrator at Vanquis Bank, remarked, "Data is at the heart of everything we do. We process large volumes of data to drive risk reporting, risk management, and product marketing, while ensuring we meet regulatory demands. Without a reliable data platform, delivering timely information to regulators and business decision-makers would be more than a challenge."

He added, "We've always seen great success with SAS solutions, and this upgrade allows us to take our analytics to the next level. By resolving persistent issues and optimising our processes, we've freed more time to focus on delivering value-added initiatives across the business. We're just at the beginning of our journey with SAS Viya, and we're confident it will allow us to achieve even greater efficiencies and continue delivering excellent service to our customers."

Roderick Crawford, Senior VP for SAS Northern Europe, commented on Vanquis Bank's decision: "Vanquis Bank's decision to adopt SAS Viya on Microsoft Azure is testament to their commitment to staying ahead in an ever-evolving financial environment. By transitioning to a cloud-based, AI-driven analytics platform, Vanquis will be equipping itself with the tools to navigate the challenges of subprime lending and stringent regulatory demands with more agility, accuracy, and efficiency."

He further noted, "This move will allow them to process vast amounts of data faster, scale their operations seamlessly, and optimise resources across the board. Ultimately, it's not just about cost savings or performance gains; it's about enabling the bank to innovate continuously and enhance customer experiences while reinforcing its position as a trusted, community-focused financial institution. We're excited to support them on this journey and help them unlock even more value from their data."