SunTrust to roll out Reveleus Basel II package
12 July 2007 | 6112 views | 0
US-based SunTrust Banks is implementing risk management technology from i-flex subsidiary Reveleus to comply with the Basel II capital regulations.
The vendor says its Reveleus Basel II Solution will cover all of the bank's activities, including consumer, commercial, mortgage, private clients and capital markets.
The package offers SunTrust 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.
Mark Chancy, CFO, SunTrust, says: "This is an important initiative for SunTrust as we move towards increasing sophistication in our risk and performance management practices."
I-flex's majority shareholder Oracle recently created a financial services software unit to bring together its own product suite with i-flex's applications - including Reveleus, Flexcube and Mantas.