Interbank Selects i-flex Solutions' Reveleus for Operational Risk

i-flex Solutions Ltd has announced that Reveleus, a business of the Company and a global provider of analytical applications for the financial services industry, on November 21, 2006 has announced that Interbank, one of Peru’s leading commercial banks, has selected Reveleus Operational Risk as its enterprise-wide Operational Risk Management platform.

Reveleus Operational Risk will provide Interbank with a comprehensive system to monitor operational risk on a continuous basis for real-time escalation and remediation. Reveleus’ solution will provide the foundation for Basel II regulatory reporting and can be used for economic capital calculations as the bank may require in the future.

Reveleus Operational Risk is part of Reveleus’ globally successful Risk Analytics suite which has won international industry recognition. While other Reveleus Risk solutions are currently in use at various Latin American and Caribbean banks, this customer engagement marks the entry of Reveleus as a strategic operational risk solution provider. Celent Research recently named Reveleus among the top three Operational Risk vendors in the world.

Commenting on the win, Anand Pitre, the Company's Regional Sales Director for Latin America and Caribbean, said, "Latin American banks are becoming increasingly aware of the critical importance of managing risk in their daily operations. This customer win is a testament to Reveleus’ suitability for the region and expands i-flex’s presence into new countries in Latin America."

S Ramakrishnan, CEO of Reveleus, said, "We are excited to support Interbank’s Operational Risk strategy and execution; we expect very tangible benefits to flow from the bank’s unique approach to Operational Risk as a driver for operational improvement and compliance initiatives. Reveleus Operational Risk is committed to being a best-in-class solution that provides our clients with actionable insights to improve both processes and operational risk capital management".

Source : Equity Bulls

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