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Hyderabad, Aug 22 The Institute of Insurance and Risk Management (IIRM) here and Rocsys, a software company, have entered into an understanding to provide Basel-II solutions to banks.

Rocsys, also a Hyderabad-based company, has developed an operational risk management solution in compliance with Basel- II guidelines. The solution helps banks to take up risk profiling of business lines, products and services offered by them.

The product helps in extracting important data required for computing Key Risk Indicators (KRI) automatically from various database within the bank, according to a press release from IIRM.

Basel-II compliance for capital adequacy has become mandatory for all banks, said Mr Vepa Kamesam, Managing Director of IIRM. The product from Rocsys seems to fit their requirements, he added.

IIRM provides consultancy services in the area of risk management. In the light of new capital norms prescribed by RBI/BIS (Basel II), risk management becomes important for banks.

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