Reveleus, a business of i-flex solutions and a global provider of analytical applications for the financial services industry, has been positioned by Gartner, Inc. in the leaders quadrant in the Basel II Software Application Magic Quadrant’I report.
“The quadrant tends to be occupied by vendors with integrated Basel II software application suites covering all the risk disciplines and who have also achieved a high level of market acceptance as well,” says a spokesman for Gartner. “These suites contribute to developing a common architectural approach and enable a consistent view of risk across the organisation as compared to separately designed and implemented risk-calculation engines or reporting tools. Such vendors are beginning to approach the market with a more comprehensive approach to Enterprise Risk Management and its linkage to Corporate Performance Management. They also have robust organisational structures and professional services resources.”
“We are proud to be positioned in the Leaders Quadrant. We believe this placement further validates the confidence that our clients, industry analysts and regulators have shown in our domain expertise,” adds S Ramakrishnan, the CEO of Reveleus and Mantas. “Especially valuable to our globally active customers has been our relentless focus on a comprehensive solution with the flexibility to address evolving requirements across multiple jurisdictions. The Reveleus team is dedicated to building truly innovative solution offerings to help financial institutions meet their respective compliance goals.”
Currently a quarter of North American banking assets (over USD2.7 Trillion) flow through the Reveleus Basel II engine. Other customers include Bank of Montreal in Canada, Lloyds TSB in the UK and Ta Chong Bank in Taiwan.
In August 2006, i-flex acquired Mantas Inc., the industry’s leading solution provider for detecting risk and addressing regulatory requirements in the anti-money laundering, trading and broker compliance areas. Together, Reveleus and Mantas bring together two industry leading solutions into a single unified platform for governance, risk and compliance.