Operational risk management software will be essential under Basle II. And it means something more than a loss database, argues software supplier David Withey
Software to support operational risk management is no longer simply a nice a thing for a major bank to have, but is now an essential requirement in the wake of the new Basle capital accord, which takes effect in 2004.
The choice now facing a leading bank is whether to build its own system or buy one. Either way, the time to start is now,