Oracle Press Release

TAIB Bank Uses Oracle® Reveleus to Accelerate Time to Basel II Compliance

Leading Investment Bank in Bahrain Implements Oracle Reveleus Basel II and Oracle Reveleus Asset Liability Management to Support Compliance Efforts, Enhance Operational Efficiency

Redwood Shores, CA – September 10, 2009

News Facts

TAIB Bank, a leading private investment bank in Bahrain, has implemented Oracle® Reveleus Basel II and Oracle Reveleus Asset Liability Management to support its company-wide risk and compliance efforts, Oracle Financial Services Software announced today.
Oracle Reveleus is an enterprise risk management solution that enables financial institutions to manage all areas of risk, including credit, market, operational, liquidity, and reputation risk, while at the same time providing the necessary feeds for compliance-based reporting.
TAIB Bank - which offers a mix of traditional private banking and wealth management solutions to its clients including portfolio management, best-in-class investment funds, global brokerage services, real estate, private equity and various other investment avenues – was looking to obtain an enterprise-wide view of its risks as well as cut down on the time spent preparing regulatory reports.
Additionally, the bank was seeking a solution that would provide out-of-the-box coverage for their unique portfolio of banking and investment services.
The bank is now using Oracle Reveleus’ rich capability to help monitor and measure risk, as well as to consolidate data from all of its subsidiaries for regulatory reporting in a standardized format.
This is helping to create value for TAIB Bank by establishing a foundation that can be used for addressing operational risk and market risk as well as for moving to more advanced approaches of Basel II in the future.
Because information is now available from a central location, Oracle Reveleus is helping TAIB Bank handle regulatory Prudential Information Reporting (PIR) to the regulator, Central Bank of Bahrain (CBB), in less time, yet more accurately.
TAIB Bank expects that the Oracle Reveleus implementation will help it save a significant amount of time and deliver required capital computation processes in an accurate and consistent manner.
TAIB Bank selected Oracle Reveleus for its proven track record in Basel II and its focus and coverage on enterprise risk management. The implementation of the solution was completed in less than seven months.

Supporting Quotes

“Oracle Financial Services Software is providing us with a flexible, best-in-class solution that fits well with our current and future business requirements,” said Deepak Katyal, Vice President, Information Technology, TAIB Bank. “Oracle Reveleus is a proven solution and we are impressed by how it has consistently delivered value to tier-1 banks across the world. We expect that we will be able to significantly improve our operational efficiency using Oracle Reveleus.”
“We are confident that Oracle Reveleus will enable TAIB Bank to build a competitive advantage in the market with better risk management and control,” said Mustafa Moonim, VP Sales – Middle East, Oracle Financial Services Software. “The Oracle Reveleus team possesses deep expertise and a detailed understanding of the Basel II regulatory capital requirements, and is well positioned to help support banks in meeting its compliance deadlines.”

Supporting Resources

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About TAIB Bank

TAIB Bank B.S.C. (c ), a private bank based in Bahrain, was established in 1979 and is regulated by the Bahrain Monetary Agency. Listed on the Bahrain Stock Exchange since 1994, TAIB is one of the region's first private banks with a focus on providing complete wealth management solutions to both high-net-worth individuals and institutional investors alike. They have 25 years of investment expertise and a network of subsidiaries around the world. The headquarters of TAIB Bank is located in TAIBTower at Manama, Kingdom of Bahrain. For more information, visit http://www.taib.com/.

About Oracle Financial Services Software Limited

Oracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. Oracle Corporation [NASDAQ: ORCL] is the world's largest business software company. For more information, visit www.oracle.com/financialservices.

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Contact Info

Kevin Ruane
Oracle
+1.650.506.6610
kevin.ruane@oracle.com