Housing Bank and ProgressSoft Sign an Agreement to Provide Businesses with Corporate Cash Management Services

Amman, June 12, 2023

Housing Bank recently signed an agreement with ProgressSoft, the leading Jordanian company in the field of software, financial solutions, and digital payments, to provide cash management solutions to the bank's corporate clients of all sizes and industries through its electronic channels, while maintaining the highest standards of security and protection. The agreement was signed by the CEO of Housing Bank, Ammar Al-Safadi, and ProgressSoft’s Co-founder and CEO, Michael Wakileh, in the presence of representatives from both parties.

According to the contract, the company is set to develop a system of solutions and services to facilitate the seamless operation of the bank’s customers' businesses. Furthermore, they will enable users to conduct banking transactions and wire transfers of any kind at any time, from any location, with a high degree of autonomy and minimal effort.

Commenting on this occasion, Ammar Al-Safadi, Housing Bank’s CEO, said, "We are pleased to collaborate with ProgressSoft once again to develop digital solutions that enhance the electronic services we provide to our customers, which is in line with our goals of constantly developing our technical environment to improve prospects for the business sector and companies. This comes in line with our efforts to keep up with our customers' continuously growing technological needs and our commitment to developing services that support the Bank's operational activities to ensure growth and sustainability.”.

From his part, Co-founder and CEO of ProgressSoft, Michael Wakileh stated, "By leveraging the power of our solution, HBTF will amplify its financial decision-making capabilities, form stronger customer relationships, and solidify its position as a leader in the corporate banking sector. We are deeply honored to have been selected as the trusted provider, and we have full confidence that this implementation will propel the bank's services to new heights of excellence."

The agreement comes as part of the bank’s direction to continue providing new and advanced digital solutions and services that keep pace with global trends and are consistent with its vision and strategy for digital transformation. This step will contribute to accelerating the adoption of this transformation by its clients' businesses, enabling and assisting them to grow, as well as providing them with a modern and effective banking experience that will enhance the financial inclusion.

About Housing Bank

The Housing Bank, the largest and most widespread bank in the Kingdom and a leader in the regional banking sector, was established in 1973 with a capital of approximately JD500,000 and was recognized at the time of establishment as the first bank specialized in the provision of housing financing that gave rise to Jordan’s urbanization and construction sector. In 1997, and upon the bank’s transformation into a commercial bank, its capital was raised several times over the years; the latest increase happening in 2017, with a capital of JD315 million (around $444 million).

With its advanced performance, the quality of its assets, the strength of its capital base and its responsive strategy, the Housing Bank is entrenched in its position as a landmark financial institution that supports both its individual and corporate clients through innovative banking, financial, and investment services and solutions, which are on par with the leading global services.

Since its establishment, the Housing Bank has maintained its pioneering role by introducing innovative concepts and services to the Jordanian banking market. Today, it remains a leader in the banking sector, spearheading Jordan’s modern digital transformation revolution.

The Housing Bank has been recognized on a local, regional and international level with global awards and certificates of appreciation. The bank operates an extensive network of domestic and external branches in Jordan, Palestine, and Bahrain, in addition to affiliate banks and corporations inside and outside Jordan in Algeria, Syria, London, and representative offices in Iraq, Emirates and Libya.

For more information, please visit our website: www.hbtf.com

About ProgressSoft Corporation

ProgressSoft Corporation is a leading provider of real-time payment and financial solutions tailored to the needs of the financial sector.

Founded in 1989, ProgressSoft’s commitment to innovation, quality, and customer satisfaction has earned it a loyal customer base of more than 370 banks, central banks, payment service providers and financial institutions in 24 countries.

ProgressSoft offers a suite of payment and financial solutions that cater to the evolving needs of financial institutions. These solutions include central bank digital currency, instant payments, payments hub, digital banking, electronic know your customer and electronic check solutions. This is in addition to buy now pay later, real-time gross settlement and automated clearing house among others.

Today, ProgressSoft is a globally trusted and reliable partner for automating and enhancing the efficiency of payment, clearing, settlement and financial systems, with its solutions recognized for their excellence in innovation and efficiency.

For more information visit www.progressoft.com