Oracle is previewing a new risk management package designed to help financial services providers comply with forthcoming Basel II requirements.
Available in early 2005, Oracle Regulatory Capital Manager is built on Oracle's Enterprise Management Foundation, which incorporates enterprise wide data into a single data store. Using the product, financial services organisations will be able to capture and analyse the data required under Basel II, says Oracle, and subsequently calculate regulatory capital using any of the methods prescribed by the Accord.
Steven Miranda, vice president, application development at Oracle, says the system has been designed to achieve more than baseline compliance.
"Out-of-the-box integration with other Oracle E-Business Suite applications, such as Oracle Performance Analyzer and Oracle Funds Transfer Pricing, allows financial institutions to use regulatory capital results to determine account, customer, business unit and product profitability measures on a risk-adjusted capital basis," he says. "The integration with Oracle Internal Controls Manager, another Oracle E-Business Suite application, allows financial services companies to leverage their regulatory investment to decrease regulatory capital and compliance costs even further."
Oracle Consulting Services, and Deloitte in the UK and US have been selected as preferred implementation partners.
The product is scheduled to ship in early 2005.