ProgressSoft Unveils Cutting-Edge ACH Solutions in Sibos 2008

Amman, July 1, 2008

For the 5th year in a row, ProgressSoft announces its participation in Sibos 2008 - the world's premier financial services event - scheduled to take place in Vienna - Austria this year from 15 - 19 September, 2008.

With four successful country-wide implementations of its world's first Electronic Image-based Check Clearing Solution and numerous bank implementations in several other countries, ProgressSoft has certainly left its mark in the Real-time Payment arena both internationally and regionally.

This year in Sibos, ProgressSoft will certainly turn heads with its all new Automated Clearing House (ACH) Solutions; PS-ACH Suite of products.

This brand new trend will change the way the financial services industry perceives payment settlements.

ProgressSoft's ACH solution, as well as the rest of ProgressSoft's products, is entirely developed in-house putting into use years of collective experience in real-time payment solutions.

During Sibos; all the PS-ACH components will be demonstrated which comprise the Automated Clearinghouse Core, PS-ACH Core, the Automated Clearinghouse Participant Gateway, PS-ACH Participant Gateway, and the Automated Clearinghouse Workstation, PS-ACH Workstation.

"ProgressSoft continued to offer innovative and state-of-the-art real-time payment solutions for the past 19 years. And now, we are excited that PS-ACH will complement our portfolio of payment solutions. It will allow us to work in partnership with financial institutions in new ways, which were not possible before. This step is in line with our vision to be the premier payment solution provider" Expressed Mr. Michael Wakileh - CEO of ProgressSoft Corporation.

ProgressSoft will also be showcasing its suite of Electronic Check Clearing solutions, including Prompt Check, the Checks' Branch Capture system, Prompt RDC, the Checks' Remote Deposit and Capturing system, Prompt ATM/CDM which secures the remote deposit of checks to ATMs and Check Deposit Machines for clearing purposes, Prompt xBorder, which clears checks across international borders, Prompt Settlement, the Clearing House check clearance system.

Conveying its expertise in signature verification and recognition technologies, ProgressSoft will also bring forth its sophisticated Automatic Signature Verification Solution, PS-ASV and its robust Financial Document Recognition Solution, PS-FDR.

[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 including the US, Canada, the UK and Germany.

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.

More information can be sought by visiting or contacting us via the following connections.

Yazan A. Goldstein
Corporate Communications Executive
ProgressSoft Corporation
Tel: +962 6 56 23 000 Ext. 211
Fax: +962 6 56 90 564
Email: [email protected]