SunTrust Banks selects Reveleus Basel II Solution   27th July 2007 Reveleus, a provider of analytical applications for the financial services industry, and Oracle say that SunTrust Banks, Inc. one of the largest banking organizations in North America , has selected the Reveleus Basel II Solution as a central component of its planned adherence to the Basel II capital adequacy regulations. The solution will help deliver sophisticated risk management capabilities that support the needs of the business, enable risk-enlightened management and the optimal allocation of capital. The solution will span all activities of the Bank including Consumer, Commercial, Mortgage, Private Clients and Capital Markets. This engagement is under the auspices of the strategic Basel II reseller agreement between Oracle and Reveleus and enables SunTrust to reap the benefits of the close alliance between the two organizations. Oracle is a majority owner of i-flex solutions. The Basel Committee on Banking Supervision is an arm of Switzerland-based Bank for International Settlements, which has defined the Basel II capital adequacy requirements for global banks. One of the committee's principal goals is to reduce risk in the financial system worldwide by aligning each bank's capital requirements to more accurately reflect its credit, market and operational risks. Speaking on the relationship, Mark Chancy, CFO at SunTrust said, “This is an important initiative for SunTrust as we move towards increasing sophistication in our risk and performance management practices. We needed to partner with a company that understood our needs and had a proven record in delivering market leading banking analytic solutions. The solution from Reveleus and Oracle ideally meets our requirements.”
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