Announcing Providus Software Solutions.Business Editors/High-Tech Writers ROCKVILLE, Md.--(BUSINESS WIRE)--May 1, 2003 Providus Software Solutions was launched today as a new company, specializing in enterprise Regulatory and Risk Management software. Providus originated from the Risk Management division of Lexign Corporation, a global software firm with over a decade of experience in the business process automation software market and over 2000 worldwide customers. Providus, as an independent company, will focus its development and sales resources on delivering comprehensive software solutions for corporate compliance and operational risk management. Today, Providus also announced commercial availability of its RiskResolve software application. RiskResolve is a packaged enterprise software solution for the proactive management of SEC compliance and operational risk. "Our customers have quickly realized that RiskResolve is applicable to a wide range of operational challenges, not the least of which is ensuring that their internal controls are adequate to meet new SEC certification requirements, based on the Sarbanes-Oxley Act See SOX. of 2002," stated Andrew Evans Andrew Evans refers to:
RiskResolve was specifically developed to assist major financial institutions in their efforts to manage the complex provisions of the Basel II Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. The purpose of Basel II is to create an international standard that banking regulators can use when creating regulations international capital accords, which define "operational risk" as a safety and soundness concern that should be factored into a financial institution's capital requirement. Developed first as a custom solution and then commercialized in late 2002, RiskResolve has been received enthusiastically by customers in highly regulated industries, delivering a much-needed solution in this growing regulatory environment. RiskResolve automates the risk management process and transforms internal control and compliance processes into sustainable, business activities, not annual or quarterly events. "The difficulty of deploying operational risk software that is actually usable for business line managers should not be underestimated, neither should the value that can be obtained through its use" stated Deborah Williams, Group VP of Capital Markets and Corporate Banking at Financial Insights, an IDC Company. "Embedding process control monitoring and reporting functionality into bank management is critical to success ... and to meeting regulatory compliance," added Williams. Providus will focus on expanding its existing RiskResolve customer base and further enhancing the application's feature set to meet growing customer and market requirements. Providus' goal is to deliver proactive and comprehensive software applications to meet the regulatory and risk management needs of major financial institutions and other industries within the U.S. About Providus Software Solutions: Providus Software Solutions provides proactive risk management software solutions for companies with complex operations and internal controls. Providus enables organizations to manage enterprise-wide internal controls and operational risks in preparation for SEC and Basel II regulatory requirements. Headquartered in the Washington DC area, Providus is a wholly-owned subsidiary of Zions Bancorporation Zions Bancorporation (NASDAQ: ZION) is a member of the S&P 500, a bank holding company headquartered Salt Lake City, Utah. Its star subsidiary is NSB Public Finance. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ZION), located in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. . Further information on Providus is available at: www.providus.com. About Zions Bancorporation Zions Bancorporation is one of the nation's premier financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies, consisting of a collection of great banks in select high growth markets. Under local management teams and community identities, Zions operates over 400 full-service banking offices in Arizona, California, Colorado, Idaho, Nevada, New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , Utah, and Washington. In addition, Zions is a national leader in SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government lending, public finance advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , agricultural finance and electronic bond trading. The Company is included in the S&P 500 Index. Investor information and links to subsidiary banks can be accessed at www.zionsbancorporation.com. |
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