ProgressSoft Launches its New Corporate Banking & Cash Management Solution

Muscat, September 2, 2012

ProgressSoft announced the launch of its fully-fledged Corporate Banking & Cash Management Solution, PS-CORPay and the signing of the solution's first project with one of the major banks in Oman.

PS-CORPay is currently being implemented to address the needs of the bank's corporate clientele, while providing them with competitive services that are critical to their bottom line.

"It is a great pleasure to receive an award for this ProgressSoft Solution – and an honor to all who have made a contribution to the project from ProgressSoft team; it emphasizes the fact that we will continue to deliver an innovative and complete banking and payment portfolio to the financial sector," expressed Mr. Michael Wakileh, CEO, ProgressSoft. "We are with no doubt delivering inspiration for banks of the future. On top of the award, it is very comforting to witness the great interest in our products shown by the industry," he added.

Manifesting more than 23 years of unparalleled experience in banking and payments solutions, ProgressSoft is now providing the regional and international markets with PS-CORPay; a solution that furnishes an online banking ecosystem through which the bank's corporate customers can manage their accounts, payments and liquidity in a convenient and flexible manner.

Corporate clients usually maintain several banking accounts in varying currencies. Considering the nature of their business and complexity of their banking details, corporations need an efficient means to properly manage their accounts and perform different types of banking transactions. They want to deposit checks and conduct domestic and cross-border payments without the need to have a physical presence at the bank branch. Corporate clients also need to be able to track their transactions and funds, as well as uncover their expected liquidity in order to effectively manage risks.

ProgressSoft designed the solution to fulfill all these needs, but much more. With PS-CORPay, payments, check deposits and various banking operations can be carried out and closely controlled from corporate locations. Corporate customers are provided visibility and control over their cash status, movement and overall liquidity via sophisticated cash and risk management tools. To offer yet more functionality, the solution provides both the bank and its clients versatile reporting and Management Information System (MIS) tools, as well as extensively calibrated notifications and alerts.

Several local and regional banks have already shown keen interest in the newly released solution. PS-CORPay will soon be showcased to the exclusive audience of prominent financial technology events at which the company regularly assumes its high-level presence.