Oracle today announced that it will resell i-flex solutions' Reveleus Basel II Solution, which will add feature-rich functionality to Oracle's enterprise risk management and compliance platforms to deliver a robust solution for the financial services industry.
According to the terms of the agreement, Oracle will resell and jointly market the Reveleus Basel II Solution to the financial services industry. The solution enables institutions to address evolving regulatory initiatives, such as Basel II, presently being adopted by financial institutions worldwide. It helps simplify the complex underlying framework that the Basel II Accord lays down for banks. With a comprehensive calculation engine, Reveleus enables banks to align capital requirements to more accurately reflect their credit, market and operational risks.
"The Reveleus Basel II Solution is exactly the kind of specialized application we want to deliver to customers to address the opportunities in the risk and compliance space," said Oracle Vice President for Financial Services Industry Strategy and Marketing, Andrea Klein. "Incorporating the function-rich Reveleus Basel II Solution into the Oracle solutions platform further extends Oracle's ability to deliver on the industry's need for compliance and risk management across the enterprise, rather than just within specific business units."
The announcement that Oracle will resell the Reveleus solution further extends Oracle's enterprise risk and compliance platforms and executes on the strategy to align i-flex's expertise with Oracle's financial services strategy. Oracle-through its core technology stack, internal controls management dashboard and capabilities in learning management, identity management, in-memory performance, content management and business process/business activity management-provides a comprehensive compliance and risk management framework for the financial services industry.
"We are looking forward to combining the comprehensive scope and functionality of the Reveleus Basel II Solution with the trusted reach and relationship that Oracle has in the financial services industry. This agreement cements a joint commitment to address the challenges facing financial institutions," said S. Ramakrishnan, Chief Executive Officer of i-flex solutions' Reveleus division.