ProgressSoft Corporation Celebrated its Electronic Check Clearing Project Launch in Jordan
The Central Bank of Jordan awarded the Electronic Check Clearing contract to ProgressSoft in June 2004 on behalf of the banking body in the country, making Jordan the second country to adopt such a solution worldwide. Consequently, the Jordanian Banking body will be entitled to superior upgrade to its current check clearing routine. This upgrade ensures the deposit of the checks amount in the account of the beneficiary within the same date of deposit, thus improving the level of services provided by banks, eliminates the expenditures of physical check movement, decreases check fraud losses by 95% and offers better fund management to businesses and people.
PS-ECC uses computing equipment and communication infrastructure to move information more efficiently between depositing and paying banks within the same day.ProgressSoft was honored with the attendance of its renowned partner; The American Hewlett Packard "HP". This partnership according to ProgressSoft ensures that their technology is revealed in a high performance environment. According to Michael Wakileh, Business Development Manager of ProgressSoft, We look forward to continuing to grow our partnership with HP which brings to the world leading technological solutions. Together with HP, we believe that PS-ECC will be poised to winning the European & American market.
ProgressSoft has become a technology partner to Americas Hewlett Packard, which is now marketing ProgressSofts electronic check clearing solution around the globe.Since the 16th of February 2003, PS-ECC has been running countrywide in the State of Qatar, making Qatar the worlds first country to start a new era of superior banking technology. "This system takes the banking industry to a paradigm shift in services," says Hashem Al-Sada director of electronic systems, development & planning at Qatar Central Bank. "The customer also benefits from having access to their funds sooner," he adds.
Established in 1989, ProgressSoft is the first software development company in Jordan. Striving to propose the high performance to financial and banking sectors, ProgressSoft introduced the first electronic image-based check clearing worldwide and the first signature verification system in the region. ProgressSoft's solutions are installed and distributed worldwide through an extensive banking network. For since the beginning, ProgressSoft has taken pride in providing customers with exceptional care and highest quality solutions.
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