17 January 2018
visit www.avoka.com

Temenos and TLC Consulting join forces to deliver Basel II solution

12 October 2004  |  2345 views  |  0 Source: Temenos

TEMENOS Group, a provider of integrated core banking systems, and TLC Consulting (TLC), an independent consultancy specialising in risk and regulatory compliance, have formed a strategic alliance to offer TEMENOS T24 customers a selection of credit risk banking solutions that are compliant with the worldwide adopted Basel II accord.

This alliance responds to the industry’s need for a core banking system solution with integrated credit risk. TLC will be one of a selected number of companies in the Basel II space with the ability to extract transactional and historical data direct from TEMENOS T24 system through an interface supported by TEMENOS.

The data will be imported into TLC’s barracuda software which will calculate current exposure, applying transaction, facility and counterparty level mitigation and calculating risk weighted assets (RWA) for the Standardised, Foundation or Advanced approaches to Basel II. barracuda provides a predefined, Basel II specific data taxonomy and acts as the data 'concentrator' for all the data from disparate source systems required to properly calculate RWA under Basel II.

TEMENOS T24 is a functionally rich, scalable, integrated, modular banking system with full audit trail reporting and security management capabilities enabling banks to reduce operational risk. The joint offering with TLC will offer to customers of TEMENOS T24 the ability to adhere to the Basel II accord and will give prospects the ability to do so at the start of the roll out of their new system.

Andreas Andreades, CEO of TEMENOS says: "TEMENOS recognises banks’ requirements for compliance and their search for a solution from a trusted vendor that knows the entire banking space including market and credit risk. Our alliance with TLC enables TEMENOS to provide a complete banking solution that is Basel II compliant and helps customers solve their regulatory requirements, providing a reliable picture of their credit risk exposures."

Stuart Holman, sales director, TLC Consulting adds: "We are extremely proud to be associated with TEMENOS. This alliance combines TLC’s expertise in Basel II compliant software with TEMENOS' proven track record and knowledge of banking industry."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related company information

Temenos – The Banking Software Company

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.vasco.comvisit www.niceactimize.com

Who is commenting?

Top topics

Most viewed Most shared
Buffett rubbishes cryptocurrencies; South Korea preps exchange crackdownBuffett rubbishes cryptocurrencies; South...
11730 views comments | 16 tweets | 17 linkedin
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
9872 views comments | 32 tweets | 35 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
9641 views comments | 17 tweets | 18 linkedin
Exchanges call for global fintech standardsExchanges call for global fintech standard...
9358 views comments | 17 tweets | 13 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9212 views comments | 14 tweets | 16 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job