DBS Bank Implements I-flex's Reveleus

DBS Bank today announced that it has successfully implemented Reveleus Operational Risk - Version 3.3 (formerly known as Operational Risk Tool Suite "� ORTOS), as its firm-wide Operational Risk Management system.

DBS is one of the first organisations in Asia to implement the tool, which enables firm-wide monitoring and management of operational risk in line with Basel II standards.

Reveleus Operational Risk, implemented in partnership with consulting firm Capco, provides DBS with the capability to capture and analyze operational risk profiles across multiple locations, business lines and products in an efficient, consistent and integrated manner using a simple workflow. It is a web-based tool that facilitates the capture of operational risk losses, conducts control-self assessments, monitors key risk indicators and assigns and tracks risk mitigating actions. Reveleus Operational Risk Solution is part of Reveleus' globally successful Risk Analytics Suite which has won international industry recognition. Celent Research recently named Reveleus among the top three Operational Risk vendors and TowerGroup ranks Reveleus' Basel II solution amongst the best in this domain.

Chng Sok Hui, Managing Director and Head of Group Risk Management at DBS, said: "DBS is committed to be at the forefront of risk management practices and standards among banks in Asia. The implementation of this tool is another significant milestone in the evolution of Operational Risk Management at DBS. The tool is an enabler to change within DBS and allows our business units and support units to monitor and manage their own operational risk rather than use the tool for collecting operational risk data just for regulatory compliance. This approach is really about putting operating risk management on the desktop of our staff, which is key to shaping our risk management culture. "

S Ramakrishnan, CEO of Reveleus, said: "We are very pleased to be working with an institution such as DBS which recognizes Operational Risk as not just a regulatory requirement but a strategic step towards sound business practices. Reveleus Operational Risk is committed to being a best-in-class solution that enables managers to effectively prepare for future uncertainties and the associated risks and opportunities for financial institutions. "

Lieven Van den Brande, Partner, Capco, said: "Many Asia-Pacific financial institutions continue to think of operational risk management as primarily for meeting regulatory compliance requirements. As a leader in operational risk management amongst financial services institutions in Asia, DBS understands the need to ingrain operational risk management into the culture, thinking and operational processes of the entire organization as part of the overall risk management strategy. Reveleus Operational Risk assists DBS to effectively engage the entire organisation across all locations to actively participate in operational risk management. Capco's consulting team on the ground ensures that DBS is able to utilize the solution to the fullest, to capture, analyze and act upon operational risks within the organization."

About DBS Bank Headquartered in Singapore, DBS is one of the largest financial services groups in Asia with operations in 15 markets. The largest bank in Singapore and the fifth largest banking group in Hong Kong as measured by assets, DBS' "AA-" and "Aa2" credit ratings are among the highest in the Asia-Pacific region. DBS has leading positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund raising. Beyond the anchor markets of Singapore and Hong Kong, DBS serves corporate, institutional and retail customers through its operations in China, India, Indonesia, Malaysia, Thailand and The Philippines. More information about DBS Group Holdings and DBS Bank can be obtained from our website www.dbs.com.

About Reveleus Reveleus is a global provider of analytical applications for the financial services industry in the areas of risk management, customer insight, and enterprise financial performance. Reveleus` pioneering Risk Analytics product suite enables financial institutions to solve complex challenges including multi-jurisdictional Basel II compliance and operational risk management.

Reveleus is a business of i-flex solutions, which has delivered award-winning IT services to over 680 financial institutions in over 120 countries. For more information about Reveleus` products and services, please visit www.reveleus.com About Capco Capco is a leading global provider of integrated transformation services and solutions designed specifically for the financial services industry. These services "� business and technology consulting, processing services, and technology solutions - leverage Capco's deep expertise in the corporate and investment banking, asset management, hedge fund and retail financial services segments. For more information, please visit www.capco.com