Basel-II News

Automated Financial Systems (AFS) Delivers the Banking Industry's First Basel II Segment Upgrade for Lending

(May 17, 2008)-- Automated Financial Systems (AFS), the global leader in providing commercial lending solutions to top-tier financial institutions, today announced that it has officially shipped its Basel II segment upgrade for AFS Level III, its commercial lending system. It is the first solutions provider in the lending space to do so.

"Today's segment delivery is an important first step for financial institutions that are required or are opting in to Basel II." said John Shain, president, AFS. "Furthermore, in the current, volatile financial services environment, data quality, integrity and transparency as seen through the lens of Basel II are gaining momentum beyond the regulatory community. AFS is committed to equipping leading financial institutions as they shore up data and improve loan origination and administration, while exerting tighter controls to ensure accurate reporting and, ultimately, Basel II compliance."

Available to AFS Level III clients with Releases 8.3.0 and above, the segment houses critical Basel II risk parameters required for regulatory capital modeling and reporting - a framework adopted by U.S. financial regulators in November 2007.

"Prior to Basel II's approval, Automated Financial Systems aggressively partnered with us, helping us understand how the framework would impact our business and our ability to effectively compete in the market," said Joel Hill, senior vice president, SunTrust Bank. "The new segment will speed our Basel II compliance and set the stage for establishing our models, reporting and integration with our suite of AFS solutions."

Basel II Segment Integrates Into the AFS Solutions Set

The Basel II data segment is designed for seamless integration into AFS offerings that provide a comprehensive platform for the management and use of data, including:

-- Origination capabilities through AFS Commercial Loan Origination, ensuring accuracy and quality of the Basel elements at the point of new loan booking

-- Summary and detailed reporting on the Basel elements that are integrated with the portfolio detail and segmentation capabilities of AFS Lender Workstation, which supports analytics and distributed reporting to credit and lending staff/management

-- Ongoing data maintenance capabilities through AFS Loan Administration to facilitate inquiries and updates to the Basel Elements

-- Post-booking workflow and control capabilities through AFS Credit Administration to provide a controlled, managed process for maintenance of the Basel II elements, including exception management capabilities.

Through integration, AFS is providing a single system of record for critical Basel elements in Level III along with reporting, maintenance and control capabilities to address the banks' needs for accurate, quality information.

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