ProgressSoft participates as Platinum Sponsor in MEFTEC 2009

During MEFTEC's renowned trade exhibition, ProgressSoft is conveying the latest technologies in its areas of expertise, as well as showcasing new solution offerings and unraveling its recent achievements and success stories.

Held under the auspices of the Central Bank of Bahrain, MEFTEC annually succeeds in gathering top notch names of the Middle East, African and South Asian financial community, offering them a bespoke learning, networking and business experience. Assuming its continuously exceptional presence in this regional rendezvous, ProgressSoft is participating as MEFTEC Platinum Sponsor for the fourth consecutive year.

"With new milestones notched on our belt, we're excited to be here today to share the knowledge, experiences and successes we've accumulated since MEFTEC 2008," expressed Ms Dareen Alkhas, Marketing Manager - ProgressSoft Corporation. "What we have in store for MEFTEC predominantly tackles the budding needs and interests of the regional financial community"

she added.

A world-first innovator of Electronic Image-based Check Clearing, ProgressSoft brings forth its revolutionary solution PS-ECC, which has been successfully implemented on a nationwide scale in 4 countries and is effectively operating in more than 100 banks, whereby a fully electronic, same-day clearing cycle and check truncation from the branch are being achieved.

Complimenting its expertise in the real-time payments domain, ProgressSoft is introducing its PS-ACH, the Automated Clearing House Direct Debit / Direct Credit solution. Developed in compliance with SEPA standards and internationally accepted message formats, PS-ACH facilitates the transformation of consumer payments to electronic debits and performs real-time exchange of messages through an end-to-end clearing cycle. With this technology, financial institutions and clearinghouses can realize accelerated transaction processing, reduced processing costs and banking fees and improved funds availability.

ProgressSoft's showcase also comprises signature verification and recognition systems, the chief of which is PS-ASV, the Automatic Signature Verification Solution. Deploying advanced technology and artificial intelligence, PS-ASV replaces the mere visual comparison of signatures with automated means to achieve an intelligent verification process.