CRISIL Risk Solutions Sings Agreement With IDBI Bank For Advanced Basel-II

Published: 12-Jun-2009

CRISIL Risk Solutions will also integrate various risk systems in IDBI Bank during the course of the assignment.

CRISIL Risk Solutions, a provider of risk solutions for banks, financial institutions and corporates, has announced that it has signed an agreement with IDBI Bank Limited, to help it meet the Advanced Basel II approaches.

As part of this agreement, CRISIL Risk Solutions will provide consulting services to develop a comprehensive and integrated risk management architecture. It will also license and implement its proprietary software solutions such as CORE (for management of operational risk), CAM (for Basel II capital calculation), Credit Capital (for Economic capital calculation) and RAM (for internal rating) for IDBI Bank.

The project had attracted bids from more than a dozen international and Indian firms. After a thorough technical evaluation and short-listing of eligible bidders in the technical round by IDBI Bank, CRISIL Risk Solutions has emerged as the winning bidder.

Hemant Joshi, Managing Director and CEO, CRISIL Risk & Infrastructure Solutions, said: “This win was possible on account of our commitment to developing capabilities across the risk solutions chain, spanning consulting, products and integration services. We are committed to providing innovative and value added solutions in the risk management space to ensure superior customer satisfaction.”

CRISIL Risk Solutions is a division of CRISIL Risk & Infrastructure Solutions, a 100 per cent subsidiary of CRISIL Limited.

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