National Bank of Abu Dhabi Opts for ProgressSoft's Electronic Check Clearing Solution

Abu Dhabi, May 31, 2006

ProgressSoft, the industry-leading provider of imaging solutions to the financial sector, announced today that is has been awarded the electronic check clearing project to be executed in National Bank of Abu Dhabi (NBAD). ProgressSoft will be working on implementing its contemporary check clearing solution, Prompt Check, to electronify all check clearing routines across NBAD's branches.

Leveraging its proficient expertise, ProgressSoft provides NBAD with Prompt Check, the bank-oriented check clearing solution that offers instant inter-branch check clearing while seamlessly connecting with the Clearing House Unit interface for clearing inward and outward items, enabling a full inter-bank clearing cycle.

"Claiming the preference of one the most prominent banks in UAE is another milestone for ProgressSoft. We are more than ready to bring along momentous advancements to National Bank of Abu Dhabi with our solutions and professional excellence" affirmed Mr. Michael Wakileh, CEO, ProgressSoft.

Being one the largest banks in UAE, National Bank of Abu Dhabi has meticulously chosen a partner that possesses the optimum solution as well as the technical and business experience in such substantive projects. NBAD will soon be engaging in a smooth transition from a manual to a fully automated and electronic check clearing process. ProgressSoft's solution promises an online, same-day clearing of checks, while rendering the traditional physical movement of paper-checks needless.

In addition to availing an expedited clearing cycle, Prompt Check comes with a rich array of benefits including considerable reduction in check losses and fraud, smashed down expenses, controlled float and better fund management.

[About NBAD]
National Bank of Abu Dhabi was founded by the government in 1968, and is now the Number One Bank in the UAE, in terms of total assets, deposits, profits and branch network. With the largest branches and ATMs network in the country, the bank has been serving the people of the UAE, offering them premier financial services and wide ranging banking facilities. NBAD also operates 16 overseas branches in Egypt, Oman, Sudan, UK, France and Bahrain. The Network also includes Abu Dhabi International Bank, a subsidiary incorporated in Curacao, Netherlands Antilles but which functions as a branch in Washington. For more information please visit

[About ProgressSoft]
Committed to a boundless aspiration towards innovation since its inception in 1989, ProgressSoft has been focusing its proficiency in imaging technology to deliver an impressive suite of intelligent solutions to the financial world. Today, ProgressSoft has consolidated its position as the new household name in the banking industry, claiming an active role in shaping the future of a technology-driven era of electronic financial services.