Wells Fargo has selected i-flex’s Reveleus Basel II Solution to help build its credit capital calculation application for to meet Basel II directives.
“The Reveleus Basel II solution is architected to simplify the underlying complexities that the Basel II Accord mandates while enabling Wells Fargo to leverage its existing processes and structures,” said S. Ramakrishnan, CEO of Reveleus.
The credit solution will provide Wells Fargo with a complete set of rules, computations, business definitions and underlying data structures to support the bank’s computations according to the Advanced Internal Ratings Based Approach of the Basel II Accord.
This engagement follows the recently-announced agreement between Oracle and i-flex solutions for Oracle to resell the Reveleus Basel II solution and enables Wells Fargo.
“We sought a partner with a proven track record of execution in the Basel II space and an application that would work well with the structure of our business,” Nick Deshpande, head of Wells Fargo’s corporate project office. “This solution from Reveleus and Oracle is one that fits the bill.”