New lab will give students access to SAS Viya, financial crimes software and training; initiative seeks industry and government collaboration
TORONTO, Sept. 23, 2024 /PRNewswire/ — The University of Toronto’s Rotman School of Management and global leader in data and AI SAS have launched a Financial Crimes Lab to support Rotman students with hands-on experience in tackling complex fraud and financial crime schemes with data and AI.
Rotman students will use SAS Viya for Learners to develop models that help partnering organizations better detect fraud.
The lab will use solutions provided at no cost by SAS Global Academic Programs, including SAS® Viya® for Learners, which allows coders and non-coders to gain experience in all stages of the analytics life cycle. The advanced analytic capabilities of SAS Viya will enable students to manage projects, conduct analysis, and apply AI and machine techniques to help develop analytics to better detect fraud and financial crimes at organizations that are partnering with the Rotman initiative.
Gerhard Trippen, Academic Director, Master of Management Analytics at Rotman, said students will benefit from regular check-ins, milestones and support outside of regular school hours.
“Students are going to gain valuable experiences through this lab, not just from the tools helping empower them, but the industry mentorship as well. I think this is a great structure. As a student, I would have loved something like this,” said Trippen.
Empowering the next generation of advanced analytics talent
Technology has advanced rapidly in recent years. Financial services and other industries have trended towards digitalization, and virtual currencies and digital identity recognition are no longer novelties. The innovation in financial services is exciting, but at the same time, it increases the opportunities for financial crime.
SAS’ recent consumer fraud study, based on a survey of 13,500 people, found that 89% of respondents expect organizations to better protect them from fraud. Further, two-thirds indicated they would switch service providers for better fraud safeguards. Fraudsters are using AI to better target victims, create deepfakes and obscure their identities. The Rotman lab will equip students with the AI skills to detect sophisticated fraud and financial crimes and fight back.
“Armed with leading data and AI technologies, Rotman’s SAS-powered Financial Crimes Lab connects organizations with the next generation of fraud and financial crimes fighters,” said Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions at SAS. “Students benefit from hands-on, real-world experience, while forging valuable connections. In a market where AI and fraud prevention talent is in short supply, partnering organizations can augment their in-house resources to unravel the increasing number of hard-to-detect schemes.
“As businesses across industries accelerate the adoption of AI technologies to keep pace with criminals, partnerships like this help ensure that future fraud fighters graduate with the tech acumen they need to be competitive in the market and keep bad actors at bay.”
Learn more
Are you a Rotman student interested in gaining real-world experience fighting fraud and financial crimes? Or is your organization prospectively interested in partnering with the Rotman lab to amplify your in-house anti-fraud capabilities? Register online at sas.com/ca/rotmanlab for more information.
About Rotman
The Rotman School of Management is part of the University of Toronto, a global center of research and teaching excellence at the heart of Canada’s commercial capital. Rotman is a catalyst for transformative learning, insights and public engagement, bringing together diverse views and initiatives around a defining purpose: to create value for business and society.
About SAS
SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.
The Canadian subsidiary of SAS has been in operation since 1988. Headquartered in Toronto, SAS employs more than 200 people across the country. For more information, please visit www.sas.com/canada.
Editorial Contact:
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