Bank of Jordan has chosen Wolters Kluwer’s OneSumX to provide its risk software after a competitive tender process. The bank has specifically signed up to use OneSumX for Risk to manage its Liquidity Risk and Asset and Liability Management (ALM) requirements.
Bank of Jordan will use the OneSumX for balance sheet modeling, risk measurement, risk management and regulatory compliance. The solution is based on Wolters Kluwer’s integrated data architecture and is a truly enterprise-wide risk solution.
OneSumX Liquidity Risk Management, meanwhile, combines a risk management/stress engine and regulatory reporting platform which will enable Bank of Jordan to monitor, manage and report liquidity risk.
The bank will use Advanced Financial Solutions for the implementation of the Wolters Kluwer offering. A subsidiary of Midis Group, Advanced Financial Solutions specializes in providing software solutions and consulting services for financial institutions in the Middle East, North Africa and Turkey.
“Bank of Jordan is keen to ensure we have a state of the art risk management platform in place,” says Mr. Saleh Hammad, Chief Risk Officer at Bank of Jordan. “As a result we carefully chose our vendor and opted for Wolters Kluwer based on its strong reputation and risk expertise.”
“Wolters Kluwer is delighted to have been chosen to provide the risk software for Bank of Jordan,” notes Kris Van Bavel, managing director, EMEA, Finance, Risk and Reporting, for Wolters Kluwer. “Banks across this region are increasingly sophisticated when it comes to risk management and we are on hand to provide them our expertise. We certainly look forward to continuing to work with the bank to help manage their exacting risk management requirements.”