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AJIB Bank selection for Loxon Risk Management Solution from Pio-Tech was based on the solutions capability that is considered as an integral part of Pio-Tech’s solutions implemented at the bank. The solution will enable the bank to automate the risk management processes according to Basel III requirements to cover Market Risk, Operational Risk, Liquidity and Credit Risk. The solution will enable the bank to comply with disclosure and compliance requirements of central bank of Jordan, in addition to providing the bank with Credit Rating System for internal rating calculations.
Being one of the leading banks in Jordan, the AJIB is continuously improving its services and technology infrastructure. AJIB’s Assistant General Manager Mr. Wael al Qadi said that “We believe implementing Loxon Risk Management Solution for Basel III will contribute to our progress strategy and increase agility while avoiding the risks” he added:”managing risks had become a crucial issue specially after series of global financial crises and the ever changing business environment and challenges facing the sector, and we had chosen Pio-Tech because of its extensive experience in providing specialized business solutions for the banking sector”.
Pio-Tech’s Managing Director Mr. Rand Hashem said:” We are proud of AJIB’s confidence in our delivered solutions, and this project will be a sequel to a series of successful implementations at AJIB Bank”, he added:” region’s markets are showing a great demand in the areas of compliance and risk management, this growth comes from organizations recognitions for the importance of these solutions and their active role in improving their competitive advantage, and we are at Pio-Tech are proud to be one of the first Arabian companies specialized to provide these solutions”.
As for the importance of Risk Management Solutions, Mr. Hashem added:” Risk Management Solutions are becoming an essential requirement for banks to progress steadily in light of the current volatile economic and global crises, Risk Management Solutions helps banks and institutions in identifying risks and analyzing the impact and therefore assist to take the necessary measures to avoid these risks or mitigate the impact on the Bank”.
Pio-Tech is considered one of the leading companies in the field Business management Solutions powered by strategic alliances with distinguished business partners. Committed to a perpetual innovative performance, Pio-Tech’s team of visionary consultants is dedicated to providing customers with bright enterprise management solutions. The company’s name is an embodiment of its ambition of becoming a pioneer in Information Technology solutions.
