ProgressSoft as Platinum Sponsor in MEFTEC 2008

Manama, February 11, 2008

ProgressSoft, the widely-renowned provider of financial solutions, commences today its participation in MEFTEC 2008, the banking and financial technology event is taking place in Manama, Bahrain from 11-12 Feb, 2008. The company's latest offerings are currently being showcased during MEFTEC's highly specialized trade exhibition.

Held under the auspices of the Central Bank of Bahrain and staged at the heart of one of the world's leading financial centers, MEFTEC is where top notch names of the Middle East, African and South Asian financial community are annually attracted. For the 3rd year as MEFTEC Platinum Sponsor, ProgressSoft highlights its participation with the introduction of contemporary technologies, parallel to recent accomplishments in the electronic check clearing and real-time payment fields.

"We continued to deliver the latest over the past 18 years, but 2008 is a remarkable milestone in ProgressSoft's offerings of state-of-the-art payment and imaging solutions" affirmed Mr. Michael Wakileh, Chief Executive Officer, ProgressSoft. "This year, ProgressSoft will unveil many payment solutions which will mark a new payment paradigm in the region."

A world-first innovator of the Electronic Image-based Check Clearing Solution, ProgressSoft possesses long-standing expertise in this field where it successfully implemented the solution in 90 banks and 4 Central Banks in 6 countries being Jordan, Oman, Qatar, Saudi Arabia, Sudan and UAE.

This pioneering solution actualized a fully electronic, same-day clearing cycle, with check truncation from the branch. During MEFTEC, ProgressSoft is bringing forth its branch capture solution alongside new offerings for Remote Deposit Capture and ATM/CDM capture of checks from the very first point of presentment; a set of solutions that facilitate check collection and processing from the moment it is received by the beneficiary.

Moreover, ProgressSoft's showcase will 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. Further addressing critical financial needs, ProgressSoft will also display advanced approaches to real-time payments with PS-eTrade, the electronic gateway for securities trading settlement. Availing an online, end-to-end trading environment across banks and brokers, PS-eTrade enacts the transition to T+0 settlement value date.

ProgressSoft will also be presenting its new comprehensive Business Process Management (BPM) solution that brings new levels of productivity to any repeatable business activity from simple workgroup tasks up to enterprise wide processes by streamlining and automating business processes at a price point that delivers immediate business value.

[About ProgressSoft]
Committed to a boundless aspiration towards innovation since its inception in 1989, ProgressSoft has been leveraging the latest 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.

For more information about ProgressSoft, please don't hesitate to visit us at or contact us through the following connections:

Yazan A. Goldstein
Corporate Communications Executive
ProgressSoft Corporation
Dir Tel: (962-6) 5623000 ext. 211
Email: [email protected]