Bank of Jordan has chosen Wolters
Kluwer’s OneSumX to provide its risk software after a competitive tender
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.
Liquidity Risk Management, meanwhile, combines a risk management/stress engine
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
“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.”
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.”
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer which
provides legal, finance, risk and compliance professionals and small business
owners with a broad spectrum of solutions, services and expertise needed to help
manage myriad governance, risk and compliance needs in dynamic markets and
regulatory environments. The division’s prominent brands include:
AuthenticWeb™, Bankers Systems®, BizFilings®, Capital Changes, CASH Suite™, CT
Corporation, CT Lien Solutions, ComplianceOne®, Corsearch, Expere®,
GainsKeeper®, LegalVIEW®, OneSumX®, Passport®, TyMetrix® 360, Uniform
Forms™, VMP® Mortgage Solutions and Wiz®.
Wolters Kluwer N.V.
(AEX: WKL) is a global leader in information services and solutions for
professionals in the health, tax and accounting, risk and compliance, finance
and legal sectors. Wolters Kluwer reported 2015 annual revenues of €4.2 billion.
The company, headquartered in Alphen aan den Rijn, the Netherlands, serves
customers in over 180 countries, maintains operations in over 40 countries and
employs 19,000 people worldwide.