Iraq is embracing the newest technology in check clearing. ProgressSoft, the leading provider of real-time payment solutions, proudly announces the launch of its electronic check clearing solution—Prompt Check—at Standard Chartered Bank in Iraq.
Prompt Check seamlessly integrates with the Central Bank of Iraq’s own systems, facilitating the electronic movement of checks within the clearing cycle between paying and receiving banks. Prompt Check functions in accordance with the rules and regulations set by the Central Bank of Iraq.
ProgressSoft’s Electronic Check Clearing Solution—PS-ECC—runs live on a nationwide level in 9 countries worldwide, in addition to a number of banks in the UAE; in total serving 370 banks and central banks.
ProgressSoft is currently working on several other projects with prominent Iraqi banks, announcements of which will be made in the near future.