Bank of America Avoids Gridlock in Credit-Risk Scoring, Forecasts Using SAS
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, and asset management. The Corporate Investments Group needed to reduce processing time for credit-risk modeling, scoring and loss forecasting and increase ad hoc analysis time, while ensuring business continuity and guaranteed uptime for these mission-critical functions. To master these challenges Bank of America chose SAS Institute. Bank of America deployed SAS for Enterprise Risk Management on SAS Grid Computing and SAS Scalable Performance Data Server on a 112-core IBM BladeCenter grid and IBM's XIV Storage System. The solution has reduced the banking group's probability of loan default calculation time from 96 hours to just four.