i-flex Solutions-Oracle to resell i-flex Reveleus Basel II solution

By Our Corporate Bureau | 07 Dec 2005

Oracle will resell the i-flex Reveleus Basel II solution, which will add feature-rich functionality to Oracle''s enterprise risk management and compliance platforms to deliver a robust solution for the financial services industry. The announcement was made by i-flex Solutions Ltd.

According to the terms of the agreement, Oracle will resell and jointly market the Reveleus Basel II solution to the financial services industry. The solution enables institutions to address evolving regulatory initiatives, such as Basel II, currently being adopted by financial institutions world-wide. It helps simplify the complex underlying framework that the Basel II accord lays down for banks. With a comprehensive calculation engine, Reveleus enables banks to align capital requirements to more accurately reflect their credit, market and operational risks.

The announcement that Oracle will resell the Reveleus solution further extends Oracle''s enterprise risk and compliance platforms and executes on the strategy to align the i-flex expertise with Oracle''s financial services strategy. Oracle-through its core technology stack, internal controls management dashboard and capabilities in learning management, identity management, in-memory performance, content management and business process/business activity management-provides a comprehensive compliance and risk management framework for the financial services industry.

"We are looking forward to combining the comprehensive scope and functionality of the Reveleus Basel II solution with the trusted reach and relationship that Oracle has in the financial services industry, says S Ramakrishnan, CEO, Reveleus division. I-flex Solutions This agreement cements a joint commitment to address the challenges facing financial institutions," said.