Bank of America
Global Financial Leader Deploys Solution for Compliance and Operational Advantages
Posted: 07/17/2008
Bank of America, one of the world’s leading financial institutions, provides its services through 6,100 retail banking offices and nearly 18,500 ATMs. For a large and complex organization like Bank of America, compliance with the numerous U.S. and international financial regulations is of vital importance. One of the most significant of those regulations is the Basel II Accord, which establishes rigorous requirements designed to ensure that banks hold capital reserves appropriate to the risk to which they are exposed. To comply with the operational risk aspects of Basel II, the bank created a portal solution based on Microsoft® Office SharePoint® Server 2007. Developed and deployed in just four months, the solution has been rapidly adopted by managers and staff, who are using it to comply with Basel II and to better measure and address operational risk throughout the enterprise.
Business Situation
Bank of America needed a robust and scalable way of meeting the compliance challenge of the Basel II Accord, which mandates specific ways of assessing and mitigating operational risk.
Solution
With the help of Microsoft® Office SharePoint® Server 2007 and other Microsoft technologies, the bank developed and deployed a portal solution that aggregates operational-risk data from 200 business units.
Benefits
- Ease of development, deployment, and adoption
- Greater motivation for staff to maintain risk data
- Faster trend assessment and understanding
- Easier risk mitigation at all levels
Software and Services
- Active Directory Directory Services
- Excel Services
- Feature: Reporting Services
- Microsoft Office 2007
- Microsoft Office InfoPath 2007
- Microsoft Office SharePoint Server 2007
- Microsoft SQL Server 2005
- Windows Server 2008
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