Basel II

In 2004, the Group of Ten (G-10) nations endorsed the first draft of Basel II, a set of international guidelines for banks. Basel II significantly increased the pressure on financial institutions to tighten their business practices, including the management of information. Every aspect of Basel II—credit risk, capitalization, money laundering, operational risk, transparency and disclosure—has implications for the physical and electronic information that a bank stores, processes, secures, and discloses.

Xythos provides technology that can address many of the challenges for managing unstructured data that the Basel II guidelines pose, including:

  • Improving Control of Financial Information: Xythos provides several protective measures, including file-level security, file locking and inherited access control, to protect documents from unauthorized viewing, editing or deletion. Xythos also provides tools for enforcing your organization's business rules, such as workflow and document retention, that make daily operations more manageable. Finally, Xythos provides features, such as custom metadata and content-based search, that make it easy to review documents and decide how better to manage them.
  • Making Audits Easier and More Successful: Xythos provide tools that help with scheduled and ad hoc audits. For example, if an organization wants to review whether or not loan applications have gone through an adequate amount of review, they can identify the loan documents by searching for its identifying metadata and use auditing features to review the history of who has read, edited and approved the document. The same features that make internal audits easier will also help with external audits. Additionally, Xythos provides features, such as Tickets, designed to make it easy to share documents with regulators or external auditors who may not have accounts on the system.
  • Handling Large Archives of Documents: Many customers use the Xythos server to store and manage extremely large repositories of documents. Xythos’ modular architecture lets organization’s expand and upgrade different components, including storage, so that sensitive data does not have to be moved between systems avoiding unnecessary risk.