Sharjah Islamic Bank Upgrades its Check Clearing Practices with ProgressSoft

Sharjah, April 11, 2017

Sharjah Islamic Bank (SIB) signed with ProgressSoft today an agreement to start implementing a suite of products that will deliver an advanced technological experience in electronic check clearing for both the bank, and its clients.

After a thorough research on the most suitable solution to accommodate the bank’s needs, SIB decided to adopt ProgressSoft’s Electronic Check Clearing solution (PS-ECC) which would seamlessly integrate with its Core Banking System, offering Straight-Through-Processing of all check transactions cleared using it, replacing their existing ICCS system with a comprehensive and reliable electronic check clearing solution.

The partnership includes the implementation of a number of products which include the Bank Oriented Electronic Check Clearing “Prompt Check”, Post-Dated Check Clearing “Prompt PDC”, In-house Electronic Check Clearing “Prompt OnUs”, in addition to the check archiving solution “Prompt Archive”.

ProgressSoft has its PS-ECC solution running the check clearing on a nationwide scale in 9 countries including Seychelles, Nepal, Kuwait, Oman, Bahrain, Sudan, Libya, Qatar and Jordan. In the UAE, the solution is being used by major banks such as National Bank of Abu Dhabi, Arab Bank, and BNP Paribas.