Citigroup and Reveleus
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Citigroup is to implement Reveleus from I-flex to support its Basel II processing. The bank will implement the suite acrooss all of its business lines. Citgroup's rationale for choosing Reveleus was the need to to address evolving requirements across many jurisdictions. William L. Belew, MD of Citigroup's Corporate Technology highlighted Reveleus's ability to meet the "home-host" needs of a global company such as Citigroup. Commenting on the win S. Ramakrishnan - CEO of Reveleus said, "We 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 and the ability to manage the challenges of multiple jurisdictions and business lines." Basel II is a product of the Basel Committee on Banking Supervision. The accord has defined capital adequacy requirements for the world's major banks. The capital requirements of an individual bank will be determined from the profile it has of credit, market and operational risks.
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