BMO selects Reveleus Basel II solution

Reveleus, a business of i-flex solutions, today announced that BMO Financial Group, one of the largest financial services providers in North America, has selected the Reveleus Basel II solution.

According to a release issued by i-flex to the BSE today, the solution will provide BMO with a complete set of rules, computation engines, business definitions and underlying data structures to help the bank accelerate compliance with the risk management requirements of the Basel II Accord.

"BMO is planning an accelerated implementation of the Reveleus Basel II solution at its Canadian offices, which will commence in the second quarter of 2005. BMO will implement Reveleus to satisfy its multi-jurisdictional Basel requirements in Canada as well as internationally," the release said.

S Ramakrishnan, CEO of Reveleus, said: "We are excited to begin this new partnership with BMO by helping them strategically address their Basel II requirements - ensuring that they meet current needs while building for the future. We are confident that BMO will gain a significant total cost of ownership advantage through the implementation of Reveleus as the single solution across all jurisdictions."