OpVar licensed to Bank of America


GREENWICH, CONNECTICUT -- Op risk software provider OpVantage said in February that Bank of America has bought a licence for its OpVar product.

OpVantage said OpVar enables financial firms to apply advanced measurement approaches to op risk and to calculating capital charges, using tools and techniques formerly available only for the management of credit and market risk.

The system enables users to analyse loss probabilities, scale the losses to their firm and determine op risk profiles, including

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