Barclays Capital will initially implement four raft radar modules; incident management, control self-assessment, key management indicators and processes, risks and controls. The system is due to go live globally in April 2004.
John Whittaker, Global Head of Ops Risk at Barclays Capital said "We have selected Raft International for its ability to provide an innovative operational risk management solution that will help to facilitate Basel II and Sarbanes-Oxley compliance."
Philip Scott, Director, Operational Risk at Barclays Capital said "We wanted a best practice solution that could take us beyond regulatory compliance. raft radar provides us with an integrated solution that can be deployed globally. It is functionally rich and provides us with full scalability for growth."
David Priestley, Chairman and CEO at Raft International said "We are very pleased that Barclays Capital has chosen raft radar. This new relationship demonstrates the success of our strategy to provide best practice operational risk management software to the financial services marketplace. "