Resources for Basel II Capital Accord (Basel II)

IP-Converge signs Partnership Agreement with Kalypto

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IP Converge Data Center, Inc. signed a new partnership agreement with a leading India-based specialized risk management and Basel II solutions company Kalypto Risk Technologies. Kalypto's solutions address the areas of Credit and Operational risk for the banking vertical.

The agreement with Kalypto Risk Technologies will enable IP-Converge to provide a full suite of risk management solutions with the addition of KALYPTO/Credit and KALYPTO/Ops to complement its existing range of services. IP-Converge will leverage on KALYPTO's expertise, in the areas of credit risk, operational risk and Basel II compliance to offer cutting-edge solutions and knowledge-share to bank's in the Philippines. With the decision of Bangko Sentral ng Pilipinas (BSP) to adopt the Basel II accord, these have become high-priority areas for banks in the Philippines.

The Basel Committee on Banking Supervision (BCBS) set up Basel II on June 24, 2004 initially to create an international standard for banking regulators to follow in establishing a set of risk and capital requirements that will ensure that a bank has capital reserves appropriate to the risk the bank exposes itself to in its transactions. As a rule, the greater the risk to which the bank is exposed, the greater the capital the bank needs to hold to protect it from collapse.

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