Barclays Capital has selected the raft radar system to assist in managing operational risk and comply with Basel II and Sarbanes-Oxley regulatory requirements.
The investment banking arm of the UK clearer will initially implement four raft radar modules; incident management, control self-assessment, key management indicators and processes, risks and controls. The system is due to go live globally in April 2004.
Philip Scott, director, operational risk at Barclays Capital says: "We wanted a best practice solution that could take us beyond regulatory compliance. Raft radar provides us with an integrated solution that can be deployed globally. It is functionally rich and provides us with full scalability for growth."