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Banking industry

Reveleus Selected by Citigroup for Basel II Processing

Strategic Insights

— 1 min read

Reveleus, a global provider of analytical applications for the financial services industry, has been chosen by Citigroup to support its Basel II processing for the United States and local jurisdictions where it operates. The Basel Committee on Banking Supervision has defined the Basel II capital adequacy requirements for global banks, with the goal of reducing risk in the financial system worldwide. Reveleus' Basel II solution was selected after an extensive evaluation process and will be implemented across all lines of business at Citigroup.

Key Takeaways:

  • Citigroup has selected Reveleus to support its Basel II processing for the United States and local jurisdictions.
  • The Basel Committee on Banking Supervision has defined the Basel II capital adequacy requirements for global banks, aiming to reduce risk in the financial system worldwide.
  • Reveleus' Basel II solution was selected after an extensive evaluation process of several months.
  • The solution will be implemented across all lines of business at Citigroup.
  • Mr. William L. Belew, Managing Director, Corporate Technology, Citigroup, stated that Reveleus demonstrated the capability to manage the 'home-host' needs of a global company.
  • S. Ramakrishnan, CEO of Reveleus, exclaimed that they are excited to be working with Citigroup in this strategic and global regulatory initiative.
  • Citigroup's selection of Reveleus demonstrates the product's comprehensive functionality for large Tier 1 Banks.
  • The Basel II requirements will help Citigroup accurately reflect its own credit, market, and operational risks.
  • Reveleus has been chosen by over 30 financial institutions worldwide since its launch in 2002.
  • Reveleus is a business of i-flex solutions, which has delivered award-winning IT services to over 595 financial institutions in over 115 countries.

Statistics:

  • Over 30 financial institutions worldwide have chosen Reveleus since 2002.
  • Citigroup has implemented Reveleus' Basel II solution across all lines of business.
  • 595 financial institutions in over 115 countries have received award-winning IT services from i-flex solutions.

Sources:

  • i-flex Solutions
  • Adfactors PR Pvt. Ltd.
  • The Communication Group plc
  • i-flex solutions
  • ASIA PULSE 16-01

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