ProgressSoft Facilitates Nationwide Bulk Payments in Oman
ProgressSoft is honored to be at the heart of a radical shift in Oman’s electronic banking services as the long-term partner and facilitator of the Central Bank of Oman’s nationwide initiative to implement a new, secure mechanism for processing bulk payments.
Renowned for its forward-thinking development and initiatives, The Central Bank of Oman, in collaboration with the Ministry of Finance and Ministry of Labor, has mandated all banks in Oman to start processing salaries and recurring payments in a secure and automated manner before the end of February 2021 with the aim to massively enhance safety standards as well as reduce needed time and efforts.
ProgressSoft’s Wage Protection System and Automated Clearing House solutions implemented at the Central Bank of Oman, will be responsible to facilitate the new ecosystem through seamless and secure validation and processing of salaries and recurring payments.
In addition, ProgressSoft is helping Omani banks adhere to the new mandate through offering intelligent electronic forms in PDF and excel sheet formats that integrate with corporate banking channels, as well as its Salary Processing System, which seamlessly processes bulk payments and directs them to the Wage Protection System and Automated Clearing House solutions at the central bank.
ProgressSoft is delighted to maintain a fruitful partnership with the Central Bank of Oman and take part in elevating the payments landscape in Oman.