ProgressSoft Celebrates 6 Country-wide Projects in Year 2011

Amman, December 31, 2010

Year 2010 witnessed an outstanding record of accomplishments for ProgressSoft Corporation; the company has engaged in four new nationwide payment projects in four different countries, all in one year, serving 280 banks, Central Banks and financial institutions from all around the world.

ProgressSoft started off the year with the live-run of the National Automated Clearing House Solution (PS-ACH) at Qatar Central Bank (QCB). After their globally-renowned breakthrough in adopting Electronic Image-based Check Clearing, QCB and ProgressSoft have once again joined their efforts to engage in yet another initiative to further elevate the technological aptitude of the Qatari banking body.

A new milestone has been achieved in 2010 with the award winning of the Electronic Check Clearing project in the Kingdom of Bahrain. Under the supervision of the Central Bank of Bahrain, ProgressSoft started conjointly working with Benefit, Bahrain's Electronic Network for Financial Transactions, on deploying an electronic solution that shall replace the traditional physical movement and manual clearing of checks across all banks in the Kingdom.

Before the end of the same year, ProgressSoft managed to extend its accomplishments to the other end of the globe, reaching as far as South Asia with the award of the Electronic Check Clearing project in Nepal. The company will soon embark on this massive project that involves 200 banks and financial institutions scattered across the country's area of 147,181 sq km.

Closely following the signing of the Nepali project, ProgressSoft also consolidated its recent collaboration with the Central Bank of Sudan (CBoS) through engaging in a 'Client Appreciation Programme', which aims to foster ProgressSoft's commitment to the advancement of CBoS and the rest of the Sudanese banking sector. Under this 7-year programme, the company will be providing licenses of all its Electronic Check Clearing Suite Solutions (PS-ECC Suite), including updates of ProgressSoft's Check Clearing modules currently deployed at the Clearinghouse, Bank and Branch levels. Licenses will also be provided for all of the Suite's add-on modules, including Post-Dated Checks (PDC), Remote Deposit Capture (RDC), ATM and Check Archiving modules, in addition to upgrades of ProgressSoft's Enterprise Document Management and Signature Verification Solutions. The scope of the project involves integrations between PS-ECC Suite solutions and the various banking systems operating at CBoS and banks in Sudan.

With this exceptional, fully-fledged offering and series of previous accomplishments, ProgressSoft concluded a remarkable year. The company managed to prove itself as a globally recognized leader in deploying avant garde payment technologies across numerous banking environments and diverse business cultures.