Indian Banks Implement Reveleus" Basel II Solution

Reveleus, a global provider of analytical applications for the financial services industry, has announced that four banks and one NBFC in India - Union Bank of India, Indusind Bank, HDFC Bank, UTI Bank and Fullerton India Credit Company are implementing various modules of its Basel II solution, covering credit, market and operational risk.

Reveleus" Basel II solution, with its pre-built rules framework for determining capital adequacy, helps banks reduce the cost and complexity of compliance. It addresses the three pillars of Basel II: capital adequacy calculations, supervisory oversight and market discipline.

HDFC Bank, Indusind Bank, Union Bank of India and UTI Bank will be implementing different approaches for credit and market risk under Basel II, using Reveleus. Fullerton India Credit Company is implementing the Reveleus operational risk solution.

“Although the Reserve Bank of India has stipulated that banks need to only comply with the standardised approach, many of these banks have also chosen to implement both the standardised approach and the more demanding advanced internal ratings-based (AIRB) approach for credit risk” said S Ramakrishnan, CEO, Reveleus.

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“The selection of Reveleus by leaders in the Indian banking industry validates our vision, to holistically address the credit, operational and market risk requirements for global financial institutions. We are committed to ensuring that Indian Banks can accurately measure and manage their capital requirements,” added Ramakrishnan.