Reveleus is ‘Highly Commended’ for its Compliance Initiative Innovation in the Banker Technology Awards 2006

Bangalore, June 12, 2006: The Banker magazine and the Financial Times Group recognized Reveleus™ and its Reveleus Basel II Solution as ‘Highly Commended’ in the Compliance Initiative Innovation category of The Banker Technology Awards 2006.

According to The Banker, The Banker Technology Awards 2006 recognizes the innovation and excellence of technical applications and services for the front, middle, and back-office functions in financial services companies and the strategies used by these companies to effectively use technology. The aim is to put the spotlight on leading solutions and ‘best practices’ in key business areas.

The Reveleus Basel II Solution provides an innovative and comprehensive prepackaged solution to enable financial institutions to rapidly deploy calculations for capital adequacy, helping reduce the cost and complexity of Basel II compliance. The solution addresses evolving requirements of Basel II in multiple jurisdictions; specifically, the capability to manage the home-host needs of global
institutions.

The Reveleus Basel II Solution has been chosen by 3 of the top 5 US Banks – Citigroup, Wachovia Corporation and Wells Fargo, as well as by leading institutions such as BMO Financial Group and Lloyds TSB. Currently, over USD 2.7 Trillion of North American banking assets flow through the Reveleus Basel II engine.

“We are very excited to have the Reveleus Basel II Solution recognized by a publication as respected as The Banker,” said S Ramakrishnan, CEO of Reveleus. “It is recognition of the sophistication of our Risk and Compliance solutions and the commitment that we show to our clients.”

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