Basel II

The Basel II Accord requires banks and other financial institutions to measure their operational risks separately from credit and market risks. Operational risk is defined as the “direct or indirect loss resulting from inadequate or failed internal processes, people and systems or from external events.”

The Accord lists the following as operational risk:
• Internal Fraud
• External fraud
• Products and business practices
• Damage to physical assets
• Business disruption and system failures
• Execution, delivery and process management

Intellinx provide banks and other financial organizations a unique solution for reducing operational risks as defined by the Basel II accord, by mitigating internal fraud and monitoring business disruptions and system failures. Intellinx’s business rules track end-users behavior patterns in real-time triggering instant alerts, allowing the auditor to zoom-in on specific suspects and replay all their actions. Other business rules may be used for monitoring the availability and performance of mission critical processes, triggering instant alerts if any of these processes fails to meet the expected service levels.