Bank of Jordan has selected the Netherlands-based Wolters Kluwer’s risk management software OneSumX to manage its liquidity risk and asset and liability management (ALM) requirements.

The lender will use the OneSumX for balance sheet modeling, risk measurement, risk management and regulatory compliance.

To deploy Wolters Kluwer offering, the bank will work with Advanced Financial Solutions, a provider of software solutions and consulting services for financial institutions in the Middle East, North Africa and Turkey.

Bank of Jordan chief risk officer Saleh Hammad said: “Bank of Jordan is keen to ensure we have a state of the art risk management platform in place. As a result we carefully chose our vendor and opted for Wolters Kluwer based on its strong reputation and risk expertise.”

Wolters Kluwer managing director of EMEA for finance, risk and reporting Kris Van Bavel said: “Wolters Kluwer is delighted to have been chosen to provide the risk software for Bank of Jordan. 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.”