Uptake and customer experiences
ProgressSoft has served around 500 clients worldwide, in more than 20 countries including the US, UK, Canada, Germany and the UAE and in the banking and finance, government, IT, communication and oil sectors. There have also been incursions into South Asia with wins in Nepal and at Nepal Clearing House (see below).
Understandably, there is a Middle East slant to the
supplier’s user list. This includes large, mid-tier and small domestic banks, central banks, and the regional operations of international banks, such as HSBC, BNP Paribas, State Bank of India and Standard Chartered. ProgressSoft has enjoyed success in nationwide payments
projects, particularly with PS-ECC. In 2001, Qatar became the first country to run electronic cheque clearing on a national scale, connecting all its banks and their branches with the Qatar Central Bank, and achieving fully electronic cheque clearing and same-day depositing of cheque amounts. Jordan and Sudan were the next to implement electronic cheque clearing, with Oman following. Bahrain and Nepal are two more recent country-wide
projects, with both signings coming in 2010 and a pilot run for the former occurring in April 2011. The Bahrain project was completed in late 2011. Cheques previously took two to three days to clear in Bahrain, moving from the presenting bank to the paying bank via the clearing house. ‘Now we have automated this process by hosting a new clearing unit at the Central Bank,’ said Bashar Al-Ashal, programme manager at the supplier. This new unit would eventually be connected to 29 banks across Bahrain, the idea being that the clearing process would be able to start at the branch where a customer takes a cheque. ProgressSoft initially started projects at three of Bahrain’s
banks (Bahrain Islamic Bank, Ahli United Bank and United Bank Ltd) to integrate the new processes into their core banking systems. It had also provided a book of regulations to go with the new system. The cheque automation project started in August 2010 and was originally supposed to go live in June 2011. This deadline had to be postponed because of the political situation in the country. In May 2012, ProgressSoft announced that the project had been completed, with integration with all 29 banks in the country. For the Nepal project, ProgressSoft claimed at the end
of 2011 that the country’s clearing house and central bank were live on the electronic cheque clearing solution, and that it had been rolled out to Nepal’s 120 financial institutions. The image-based solution would replace manual processing. Further afield, the Central Bank of the Seychelles (CBS) took PS-ECC in late 2011. Adding the numerous banks in the UAE and Saudi Arabia (such as Samba Bank) also running PS-ECC, the number of banks that are currently deploying the solution to update their daily cheque clearing routines reaches more than 140.
Another development also came in the first quarter of 2010 when Bank Sohar in Oman moved the PS-ECC solution to operate it on its own premises after using it on an ASP basis at the Central Bank of Oman.
Meanwhile, in late 2009, the Qatar Central Bank awarded its national ACH project, labelled QATCH, to ProgressSoft, with PS-ACH to be implemented. The project was to see connectivity with all banks in the country for direct debit and direct credit payment transactions and the solution went live in 2010.
By late 2012, CBS had further expanded its relationship
with ProgressSoft, kicking off a mobile payments project, which would see PS-MPay rolled out across the country. This was due for completion around November 2013, and was expected to provide the end-user with person-to-person, person- to-business and person-to-government real-time mobile payments, facilitating the reduction of cash transactions. As well as this, the system would support direct credits, near-field communication (NFC), point-of-sale (POS) and bill payments, all to be made via a mobile phone. ProgressSoft fended off competition from US and European vendors for the contract. Recently Progressoft has made further inroads in Asia and middle East. In August 2016, Nepal Clearing House Ltd. (NCHL) with the support of Nepal Rastra Bank went live on the PS-ACHL solution. The ACH solution adoption is seen as a big step towards the advancement of the national payments system in Nepal. In Nov 2016, ProgressSoft partnered with e-finance and launched a new mobile payment services brand called “Khales Mobile” in Egypt. Khales mobile provides the users with facilities to carry out various types of real time payments such as, Person2Person, Person2Business, Bill payments etc. In January 2017, Central Bank of Jordan implemented
ProgressSoft’sJoMoPay - a Mobile Payment Switching and Clearing solution (PS-mpClear). This platform enables CBJ to hold a database for each single user and mobile account information. In July 2017, Central Bank of Oman (CBO) began running on
Progressoft’s mobile payment switching and clearing solution (PS-mpClear), the first implementation of this system in the GCC. This is part of a deal that includes past implementation of ProgressSoft’s solutions such as PS-ACH, PS-MMS, PS-WPS, PS-EBPP and PS-DMS. In November, CBO announced the smooth go-live of ProgressSoft’s Automated Clearing House Solution (PS-ACH) in the country. In December 2017, Zain, a leading telecommunications company in Jordan launched its mobile payment solution developed on PS-mPay.
Payment Systems & Suppliers Report |
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