ProgressSoft Entices MEFTEC Attendees with its Latest Success Stories

Manama, February 16, 2009

ProgressSoft, the leading provider of real-time payments and imaging solutions, concluded its participation in MEFTEC 2009, the banking and financial technology event which was held in Manama, Bahrain from 10-11 Feb, 2009. ProgressSoft's participation came as the event's Platinum Sponsor for the fourth consecutive year.

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.

During MEFTEC's renowned trade exhibition, ProgressSoft's booth was visited by a considerable number of decision makers from the regional banking and financial community who were interested in the showcased solutions. The visitors attended presentations of PS-ECC, the Electronic Image-based Check Clearing Solution, PS-ACH, the Real-time ACH Direct Debit / Direct Credit solution, and PS-ASV, the Intelligent Signature Verification and Recognition Solution.

ProgressSoft shared with MEFTEC attendees its recent success stories and achievements, the chief of which being the announcement of the successful live-run of its Electronic Check Clearing Solution in the Central Bank of Oman and all banks in the Sultanate. With this project, ProgressSoft managed to accomplish yet another milestone with a 4th countrywide implementation of its solution. More than 140 banks in countries including Qatar, Jordan, Sudan and now Oman, are depending on ProgressSoft's technology to actualize a fully electronic, same-day clearing cycle and check truncation from the branch.

[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:
Dareen Alkhas
Marketing Manager
ProgressSoft Corporation
Tel: +962 6 56 23 000 Ext. 206
Fax: +962 6 56 90 564
Email: [email protected]