29/03/2015

Arab Jordan Investment Bank (AJIB), one of Jordan’s leading investment and commercial banks has gone live with the Loxon Basel II Calculation Engine covering all material risks and reports under the Basel II regulation according to the Central Bank of Jordan (CBJ) and providing all advanced risk management functionalities required by AJIB.

AJIB recognized that effective risk management (both in every-day operation and practices) is one of the key success factors for Banks in the Middle-East, therefore high quality and proven solutions are needed which are also tailor-made for the specificities of the local market. For the mentioned reason the bank was looking for a professional tool which can entirely cover the Basel II requirements of CBJ both for calculation and reporting in a fully automated way and as an addition it can help the bank to become more sophisticated in risk management.

The Bank has chosen the consortium of Loxon and its strategic partner, Pio-Tech to implement the Loxon Basel II Calculation Engine as an integrated component to Pio-Tech banking data warehouse and regulatory reporting solution Bank-BI. The implementation covered the following modules: Credit risk, Market risk, Operational Risk, Operational Risk Loss Database, Stress Testing, Pillar 2 risks and Liquidity Risk module which also complies with the BIS Basel3 regulation.

Loxon is confident that the integrated solution offered together with our strategic partner Pio-Tech helps the Bank to be more prudent and profitable as through using advanced risk management methodologies can be more competitive.” - Tamas Erni, managing partner, Loxon Solutions

 

For more than three decades, Arab Jordan Investment Bank (AJIB) has built a legacy of excellence and leadership as one of Jordan’s leading investment and commercial banks. AJIB's investment and corporate banking departments offer their clients a wide range of investment and commercial banking services including mergers and acquisitions, equity capital markets (IPOs and secondary offerings), transaction advisory services, project and trade finance and equity research. In addition, AJIB's retail department continues to exert all efforts to provide diversified products and services to its clients such as personal and housing loans and most types of credit cards.

As part of its strategic efforts to expand its operations and clientele base, (AJIB) successfully took over HSBC’s Middle East Limited banking operations in Jordan. The acquisition was put into effect following the close of business on June 19th 2014, in what is considered the largest acquisition in the history of the Jordanian banking sector.

Today, AJIB’s network includes 33 branches and offices located in major population centers and commercial districts across Jordan, as well as over 60 ATM machines ready to serve AJIB customers. AJIB also has a regional and international presence in Cyprus, Qatar, and the UK.

Loxon Solutions is a software company specialized on business definition and implementation of integrated lending and risk management solutions for the financial services industry and is dedicated to serving banks and leasing companies with software solutions covering the entire lending and risk management lifecycle. The core value of the company is the strong capability of business and technology innovation keeping the company continuously a step forward of competitors. Loxon has its head office in Budapest, Hungary, and has offices in Romania, Russia (Moscow) and in the United Arab Emirates (Dubai).

Customer base and references. Loxon has achieved considerable growth in client base and has become the leading provider of the risk management and lending software market in the CEE (Central and Eastern Europe) and CIS (Commonwealth of Independent States) regions. Loxon is actively building its customer base in the MEA (Middle East and Africa) region. Loxon products and services are applied in 20+ countries, its customer base in these countries (50+ tier 1 and tier 2 financial institutions) includes the member entities of large international banking groups such as GE Money group, Home Credit International (HCI), Intesa Sanpaolo, Soceite Generale as well as regional banks like Abu Dhabi Islamic Bank, AJIB, BBK, Egyptian Arab Land Bank or The Housing Bank for Trade and Finance.

Pio-Tech is  a  system  integrator  and  business  solutions  provider  with a commitment  to  perpetual  innovative performance powered  by strategic  alliances with distinguished  business  partners and internal skillful & visionary team of consultants dedicated to enriching our customers  with bright Ideas for enterprise  management solutions.