Burgan Bank Announces Strategic Partnership with ProgressSoft

Kuwait, May 14, 2016
Burgan Bank Announces Strategic Partnership with ProgressSoft

Burgan Bank, the most dynamic regional commercial bank and third largest in terms of assets in Kuwait, announced ProgressSoft Corporation, the leading provider of real-time payment solutions, as its Strategic Implementation Partner during the bank's ceremony for going live with its new Core Banking System.

The partnership was announced as recognition of ProgressSoft's support during the implementation of the new Core Banking System.

ProgressSoft will continue to provide its full support and cooperation to Burgan Bank through its office in Kuwait City.

ProgressSoft Corporation has been the countrywide provider for Kuwait's Electronic Check Clearing Solution (PS-ECC) since 2015, and since then it has been cooperating with the Central Bank of Kuwait to continue building on the success of the Electronic Check Clearing through automating and upgrading several other payments and banking services.

About Burgan Bank Group

Established in 1977, Burgan Bank has become the 3rd largest banking institution in terms of assets in Kuwait and composes of five majority owned subsidiaries strategically located across the MENAT region and Turkey. The subsidiaries are Gulf Bank Algeria - AGB (Algeria); Bank of Baghdad - BOB (Iraq); Tunis International Bank - TIB (Tunisia) and Burgan Bank Turkey, with a network of branches distributed over MENAT, Europe, the Americas, and Asia.

In 2010, 'Brand Finance' – the international brand valuation company, rated Burgan Bank brand as AA with positive outlook, which placed Burgan Bank Brand at 2nd amongst the most valuable banking brands in Kuwait.

About ProgressSoft

Since its inception in 1989, ProgressSoft has been committed to a boundless aspiration towards innovation, focusing its proficiency in real-time payments to deliver a set of solutions tailored for the needs of the banking and financial sectors, serving more than 350 banks and central banks in 24 countries.

Specializing in real-time payments, ProgressSoft provides solutions in the fields of Electronic Check Clearing, Mobile Payments, Mobile Payment Clearing, Automated Clearing House (ACH) Payments, Real-time Gross Settlement (RTGS) and Electronic Funds Transfer (EFT). The company also provides solutions for Real-time Securities Trading Settlement, Corporate Banking & Cash Management, as well as Intelligent Signature Verification and Recognition.