Boubyan Bank Goes Live with ProgressSoft’s Payments Hub

Kuwait, February 14, 2021
Boubyan Bank Goes Live with ProgressSoft’s Payments Hub

ProgressSoft is delighted to announce the successful go-live of its Payments Hub Platform in Boubyan Bank, a highly demanded innovation for the future of digital transformation in Kuwait.

On this occasion, Mr. Abdulaziz Al Duwailah, Deputy Head of Banking Operations Group at Boubyan Bank stated “As part of our impressive digital transformation journey and objective to provide customers with fast and secure transfers over SWIFT and other payment channels and corridors, Boubyan Bank chose ProgressSoft’s Payments Hub Platform, PS-PayHub, to achieve our strategic objectives and facilitate straight-through processing and seamless routing and management of domestic high-value payments, bulk and salaries payments, instant payments, bill presentments and payments, as well as regional GCC RTGS payments among others.”

Mr. Khaled Al-Najdi, Manager of the Treasury Payments and Settlements at Boubyan Bank, also noted that “The platform, which is in full compliance with the Central Bank of Kuwait’s regulations and requirements, acts as a payments gateway between Boubyan Bank’s omnichannels and the Cenral Bank’s Automated Clearing House (ACH) and Real-Time Gross Settlement (RTGS) solutions, as well as GCC RTGS and SWIFT Alliance.”

“PS-PayHub was seamlessly integrated with our front-end and back-end systems in which it is today managing the bank’s entire payments validations, processing and routing via an inherent orchestration mechanism within the platform.” Added Mr. Ahmad Roumieh, Senior Project Manager of the Center of Excellence – PMO at Boubyan Bank. “This includes immediate notifications for payments initiation, processing and completion of financial entries, as well as accelerated, accurate and massively convenient corporate services.”

ProgressSoft and Boubyan Bank are pleased to be capitalizing on this achievement and marking a new milestone towards fully digitized payments and transformed customer experiences in Kuwait.