Permanent North American presence was secured through incorporating Consortix Canada in Toronto early this summer. The company markets and supports SAS-based Consortix solutions and provides related compliance consultancy.
Consortix sees considerable potential for synergies in the combination of market leading SAS analytic solutions and the inventive, best-practice based packaged implementation approach by Consortix. The AML Accelerator opens up market segments that have been previously inaccessible by SAS’ Tier 1-Tier 2 AML solution. SAS’ Tier 1 and Tier 2 Fraud solution is not commercially viable for smaller financial institutions either, but the fraud overlay developed by Consortix offers an effective FRAML solution for mid and small size financial institutions.
Many of SAS Canada’s already existing clients may fall within these market segments, where previously SAS AML was a desired but unaffordable solution. New prospect will also become attracted by an affordable solution with the reputation of SAS. Since Consortix’s Accelerator configuration runs on top of SAS standard AML module considerable additional license revenue is expected to be generated for SAS. It also leads to an increase in the range of services provided for existing clients of SAS and the broadening of the client base. Consortix generally expects the deployment of the SAS AML base to be completed before it sets out to work.