Wachovia selects Reveleus to ensure Basel II compliance

By definition, such solutions in the US must be flexible in order to cope with the three-year reduction of the minimum capital floor that will begin when the Accord is fully implemented. S Ramakrishnan, chief executive of Reveleus, emphasised that the package is built to manage change. “The architecture of the system can adapt from day to day,” he said.

Systems also need to adjust to changing regulatory requirements, which was one of Wachovia’s primary concerns. “Wachovia desired a comprehensive solution that could handle anything the regulators threw at them. They needed to be able to handle the entire complexity of Basel II and the complexity of their portfolio,” Ramakrishnan said.


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