Bank Nizwa Goes Live with PS-ECC Prompt OnUs; the In-house Inter-branch Electronic Check Clearing Solution from ProgressSoft

Muscat, March 6, 2014

Bank Nizwa, the first Islamic bank in the Sultanate of Oman, announced today that it started running live the In-house image-based check clearing solution, dubbed as PS-ECC Prompt OnUs, which has been provided by their partner ProgressSoft Corporation. Being part of the PS-ECC Suite of electronic check clearing solutions, Prompt OnUs has been designed to actualize online integration with the bank’s Core Banking System. With this project, Bank Nizwa became the first bank in Oman to implement and execute image-based clearing of OnUs (intra-bank) checks between all of its branches.

Following the successful operation of the electronic check clearing payment channel in Oman, which has been operating in all banks since January 2009, Bank Nizwa decided to take the lead with another bold step; the bank utilized imaging technology within its internal check clearing processes and set up its infrastructure to offer further services to its clients.

Prompt OnUs manages all In-house account-to-account check deposits & teller counter checks, alongside the inter-bank check clearing processes that are handled by ProgressSoft’s PS-ECC Prompt Check. With the vast capabilities offered by both solutions, Bank Nizwa is now completely ready to provide a unified experience for both its customers and staff.

"This successful project has paved the way for new technologies to be deployed on top of the image-based check clearing platform to extend new services, such as Corporate Remote Check Deposit and Capture, Individuals’ Check Deposit and Capture on the ATM/CDM, in addition to providing access to check images via online banking in the near future," commented Dr. Jamil El Jaroudi, CEO, Bank Nizwa.

Dr. Yousif Janahi, Head of IT at Nizwa Bank, said: "Payments are an essential part of our banking services which Bank Nizwa focuses on to ensure maximum convenience to our customers. Since its establishment, Bank Nizwa has taken continuous forward thinking steps to increase our internal systems’ efficiency to serve our growing client base".

"Prompt OnUs was planned for from day one, hence it has been implemented utilizing the same existing check scanners and hardware infrastructure", expressed Mr. Anan Alwanni, Country Manager of ProgressSoft. "It will allow clients to realize instant check collection and deposit, receive image-based deposit slips, and enjoy easier recognition and tracking of their check transactions," he affirmed.

As Oman's leading bank that is totally committed to Islamic banking, Bank Nizwa is uniquely positioned to capitalize on its expertise to provide a wide range of services and an exceptional level of convenience to its clientele. Prompt OnUs will operate at all Bank Nizwa branches to provide customers with higher quality service, access to an experienced banking team and an unwavering commitment to the principles of Islamic finance.