North American Direct Bank Case Study
The implementation of the new Basel Accord in 2007, commonly referred to as Basel II, will dramatically alter the way that financial institutions manage their risks. One EDS client, a major North American direct bank, which serves customers exclusively over the Internet and by telephone, lacked the internal resources to develop a comprehensive Basel strategy. EDS developed a detailed road map for improving its risk management operations by working with employees to analyze current governance, people, processes and technology and identify gaps to Basel II requirements. The bank expects to be ready to meet compliance deadlines. Additionally, proposed changes to the bank's processes, policies and technology infrastructure will enable it to respond more quickly to the ever-changing market.