Head Office: 51 S. B. A. Waqqas Street, PO Box 802, Amman 11941, Jordan Tel: +962 656 23 000 Email:
info@progressoft.com Other Office: Qatar, Oman, Kuwait, Dubai, US, France Website:
www.progressoft.com Twitter: @ProgressSoft Contact: Yazan Goldstein – Corporate Communications Executive Email:
yazan.goldstein@
progressoft.com Founded: 1989 Ownership: Private company Number of staff: 320, of which 280 working on payments Number of clients: Around 600 Principal partners: Technical partners: HP, IBM, Oracle, Microsoft, RedHat, Cisco, Swift, EbpSource, Fortinet Payments products: Electronic Image-based Cheque Clearing (PS-ECC Suite), Automated Clearing House (PS-ACH), Signature Verification & Recognition (PS-SIG Suite), Securities Trading and Settlement Gateway (PS-eTrade), mobile payments (PS-MPay), corporate banking and cash management (PS-CORPay). Categories: Cheque clearing, retail payment processing, mobile payments, cash management
The product suite
ProgressSoft’s solutions use a variety of technology. PS-eTrade and PS-ACH, for instance, are written in Microsoft C# for .Net. The former uses MS SQL, the latter uses Oracle. PS-ECC is Java and Oracle-based.
PS-ECC is an end-to-end real-time nationwide electronic image-based cheque clearing solution. It is used to electronically transfer cheque images and replace the manual movement of cheques between banks and clearing houses. All types of cheques are handled by the system. Bank distributed and/or clearing house ASP models are available. More than 100 banks use the system. PS-eTrade is an end-to-end, real-time securities settlement STP solution that links banks and brokers via a secure electronic payment network, controlled by a payment and settlement switch, to facilitate online routing and settlement of trading transactions and payments. Securities, stocks and shares payments can be processed through the system. Broker distributed and/or hosting bank ASP models are available. PS-ACH processes large volumes of both direct credit and
Partnerships
ProgressSoft is an HP global partner for electronic cheque clearing and HP promotes its solution in the US, Canada, Europe and Asia. The company also works with other forces in the industry, including IBM, Microsoft, Oracle, Cisco, redhat and Swift. Services partners include IMTAC in Oman, Saudi Business Machines (SBM), Gulf Business Machines (GBM) and its Kuwaiti subsidiary, Khorafi Business Machines (KBM), Perago, Globalis and Everis.
In addition, in early 2009, a partnership with the International Technical Advisory Services & Solutions (ITASSCO) was announced, whereby the latter was to become
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direct debit transactions originated in batches from the bank or the corporate side. It was originally piloted at the Central Bank of Egypt. Bank distributed and/or clearing house ASP is available. The solution comprises a core element, plus clearing house and participant gateways and workstations. PS-SIG is intended to expedite the signature verification
process through the prompt availability of the reference signatures needed for the verification and the automatic checking of account constraints and rules. When integrated with PS-ASV (ProgressSoft’s automatic signature verification solution), PS-SIG provides automatic verification of cheque signatures. It also provides the ability to scan and verify biometric characteristics such as fingerprints. PS-MPay is intended as a mobile payment platform that allows for countrywide and cross-border remittances. Via a mobile phone, users can complete a money transfer, make a bill payment, gain a balance enquiry, and change a pin code. In October 2017, PS-MPay was launched in Libya in collaboration with Almadar Aljadid, a payment service provider and government owned mobile network operator
a dealer and distributor of PS-SIG, PS-ASV, PS-EDMS (an enterprise document management solution) and PS-eTrade in Palestine. In turn, later the same year, ProgressSoft announced a partnership with S1 (bought by ACI Worldwide in Q4 2011), whereby it would sell S1’s corporate banking and trade finance solutions in the Middle East and North Africa. The partnership was short-lived. In February 2017, ProgressSoft Corporation and other entities concluded the upgrade of Seychelles Electronic Funds Transfer (SEFT) system by The Central Bank of Seychelles. ProgressSoft had been in partnership with CBS in other previous countrywide projects earlier as well.
Payment Systems & Suppliers Report |
www.ibsintelligence.com
company details
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