Jordan Kuwait Bank and ProgressSoft Announce Successful Launch of Advanced Payments Hub Platform

Jordan Kuwait Bank (JKB) and ProgressSoft Corporation announced the successful implementation and launch of ProgressSoft's advanced Payments Hub Platform. This strategic milestone, now fully operational, has modernized JKB's payment processing infrastructure and is already enhancing the Bank’s digital banking experience for its customers.

The centralized platform streamlines payment operations, resulting in improved efficiency, faster cross-border transactions, and reduced processing times. For JKB's customers, this translates to faster, seamless, and more convenient payment services.

"The successful deployment of ProgressSoft’s Payments Hub Platform is a landmark achievement that significantly boosts our operational efficiency," said Haethum Buttikhi, CEO of Jordan Kuwait Bank. "This initiative reflects our ongoing commitment to deliver superior, innovative, and reliable banking services to our clients.”

ProgressSoft's Payments Hub Platform is an integrated, API-driven solution that has successfully unified Jordan Kuwait Bank's diverse payment channels and simplified its payment workflows. This advancement provides JKB with greater agility, efficiency, and control over its payment services.

“We are proud to celebrate this successful launch with Jordan Kuwait Bank,” said Michael Wakileh, CEO of ProgressSoft. “Using our Payments Hub Platform, Jordan Kuwait Bank can now deliver seamlessly integrated payment services across channels, creating measurable value for both the bank and its clients.”

This successful implementation further reinforces ProgressSoft’s reputation as a leader in digital banking innovation and adds to its growing list of successful deployments throughout the region.

About Jordan Kuwait Bank

Established in 1976, Jordan Kuwait Bank (JKB) stands as the fifth established national commercial bank in Jordan, playing a pivotal role in the country's banking sector. With more than 60 branches across Jordan and one in Cyprus, JKB has expanded its influence both locally and internationally.

JKB's subsidiaries include Ejara Leasing Company (Jordan), United Financial Investments Co. (Jordan), and Bank of Baghdad (Iraq), with JKB holding 100%, 78.3%, and 53.4% of their capital, respectively. The bank also holds strategic investments in Algeria Gulf Bank, Quds Bank in Palestine, and Middle East Payment Services in Jordan.

Major shareholders of JKB are Al Rawabi United Holding Co. (Kuwait), a fully owned subsidiary of Kuwait Projects Company Holding (KIPCO), the Social Security Corporation (Jordan), and Odyssey Reinsurance Company (USA), a subsidiary of Fairfax Financial Holdings, owning 50.9%, 21%, and 5.85% of the Bank’s capital, respectively.

As a pioneer in Jordan, JKB was the first bank to introduce electronic delivery channels. JKB maintains a high-tech infrastructure with widespread branches, ATMs, and ITMs networks. Offering efficient, secure, and state-of-the-art e-banking products and services, coupled with a unique customer-centric atmosphere, the bank has solidified its position as a leading client-focused bank in Jordan, living up to its slogan: “More than just a bank.”

For more information visit www.jkb.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 380 banks, central banks, payment service providers and financial institutions in 26 countries.

ProgressSoft offers a suite of payment and financial solutions that cater to the evolving needs of financial institutions. These solutions include instant payments, payments hub, digital banking, electronic know your customer and electronic check solutions. This is in addition to buy now pay later, electronic bill payments and presentment, 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