Wachovia signs for Reveleus Basel II platform

Wachovia signs for Reveleus Basel II platform

US bank Wachovia is implementing risk management technology from i-flex subsidiary Reveleus to comply with the forthcoming Basel II capital regulations.

The Reveleus Basel II Solution will provide the bank with a complete set of rules, computations, business definitions and underlying data structures to help the bank achieve compliance with the Advanced Internal Ratings-based approach of the Basel II Accord.

Pete Carlson, SVP, director external reporting, Wachovia, says: "We chose Reveleus for the completeness and flexibility of the Reveleus Basel II Solution and its ability to meet our current and future requirements."

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