ProgressSoft Announces its Platinum Sponsorship for MEFTEC 2009

Amman, January 2, 2009

ProgressSoft's BoothProgressSoft, the leading provider of real-time payments and imaging solutions, announced its participation in MEFTEC 2009, the banking and financial technology event that will take place in Manama, Bahrain from 10-11 Feb, 2009. During MEFTEC's renowned trade exhibition, ProgressSoft will convey the latest technologies in its areas of expertise, as well as showcase new solution offerings and unravel its recent achievements and success stories.

Held under the auspices of the Central Bank of Bahrain, MEFTEC annually succeeds in gathering top notch names of the Middle East, African and South Asian financial community, offering them a bespoke learning, networking and business experience. Assuming its continuously exceptional presence in this regional rendezvous, ProgressSoft is participating as MEFTEC Platinum Sponsor for the fourth consecutive year.

"With new milestones notched on our belt, we're looking forward to this year's MEFTEC to share the knowledge, experiences and successes we've accumulated since MEFTEC 2008," expressed Ms Dareen Alkhas, Marketing Manager - ProgressSoft Corporation. "What we have in store for MEFTEC will predominantly tackle the budding needs and interests of the regional financial community", she added.

A world-first innovator of Electronic Image-based Check Clearing, ProgressSoft will bring forth its revolutionary solution PS-ECC, which has been successfully implemented on a nationwide scale in 4 countries and is effectively operating in more than 100 banks, whereby a fully electronic, same-day clearing cycle and check truncation from the branch are being achieved.

Complimenting its expertise in the real-time payments domain, ProgressSoft will be introducing its PS-ACH, the Automated Clearing House Direct Debit / Direct Credit solution. Developed in compliance with SEPA standards and internationally accepted message formats, PS-ACH facilitates the transformation of consumer payments to electronic debits and performs real-time exchange of messages through an end-to-end clearing cycle. With this technology, financial institutions and clearinghouses can realize accelerated transaction processing, reduced processing costs and banking fees and improved funds availability.

ProgressSoft's showcase will also comprise signature verification and recognition systems, the chief of which is PS-ASV, the Automatic Signature Verification Solution. Deploying advanced technology and artificial intelligence, PS-ASV replaces the mere visual comparison of signatures with automated means to achieve an intelligent verification process.

[About ProgressSoft]
Established in 1989, ProgressSoft has been focusing its proficiency in Real-time Payments and Imaging technologies to deliver a set of innovative solutions tailored for the needs of the banking and financial sectors with a diversified client base extending to 140 banks in 22 countries around the globe.

ProgressSoft specializes in Real-time e-payment solutions offering Electronic Image-based Check Clearing, Real-time Settlement for Securities Trading, ACH - Direct Debit and Direct Credit solutions and also excels in Imaging Technologies such as the Intelligent Signature Recognition and the Financial Document Recognition solutions.

For more information, please contact:
Yazan A. Goldstein
Corporate Communications Executive
ProgressSoft Corporation
Tel: +962 6 56 23 000 Ext. 211
Fax: +962 6 56 90 564
Email: [email protected]