The Housing Bank for Trade and Finance Awards ProgressSoft Corporation the Automated Clearing House Project

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ProgressSoft Corporation, the leading provider of real-time payment solutions signed the contract today with The Housing Bank for Trade and Finance (HBTF) to implement its Automated Clearing House Participant System PS-ACH.

In its search to continuously improve the services offered to its clients, HBTF decided to implement ProgressSoft PS-ACH to provide Direct Debit and Direct Credit payments, which include – but are not limited to - utility bill payments, mortgage payments, rent payments, salary payments, supplier payments, pensions, employee expenses, dividends and refunds.

ProgressSoft's Automated Clearing House Solution, PS-ACH, is a state-of-the-art solution that facilitates the transformation of consumer payments to electronic debits. It represents the backbone of the clearing process of low-value high-bulk payment transactions. The solution accelerates transaction processing, reducing processing costs and banking fees and improving funds availability.

The project will take four months, after which it will be up and running while seamlessly integrating with the Core Banking System and all other third-party software that HBTF is using.

ProgressSoft is proud of the partnership and level of trust it has built over the year and through working on many other successful projects with HBTF, and is excited to mark yet another milestone in its history of international success.

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