ProgressSoft Participates as Platinum Sponsor in MEFTEC 2007

ProgressSoft, the widely-renowned provider of financial solutions, announced its participation in MEFTEC 2007, the banking and financial technology event that will take place in Manama, Bahrain from 12-13 Feb, 2007. The company's latest offerings will be showcased during MEFTEC's highly specialized trade exhibition.

Held under the auspices of the Central Bank of Bahrain and staged at the heart of one of the world's leading financial centers, MEFTEC is where top notch names of the Middle East, African and South Asian financial community are annually attracted. For the 2nd year as MEFTEC Platinum Sponsor, ProgressSoft will highlight its upcoming participation with the introduction of contemporary technologies, alongside recent accomplishments in the electronic check clearing and real-time payment fields.
''Our presence in MEFTEC this year shall be accentuated with the display of most-needed technological advancements in the financial domain, manifested in our range of intelligent solutions and sound achievements on the local, regional and international levels" affirmed Mr. Michael Wakileh, Business Development Manager, ProgressSoft.
A world-first innovator of the Electronic Image-based Check Clearing Solution, ProgressSoft possesses long-standing expertise in this field. Successfully implemented in 76 banks and 3 Central Banks in 5 countries, this pioneering solution actualized a fully electronic, same-day clearing cycle, with check truncation from the branch. During MEFTEC, ProgressSoft will bring forth new offerings for Remote Deposit Capture of checks from the very first point of presentment; a set of solutions that facilitate check collection and processing from the Point-of-Sale, corporate location, lockbox or ATM/CDM.
Moreover, ProgressSoft's showcase will comprise advanced approaches to real-time payments with PS-eTrade, the electronic gateway for securities trading settlement. Availing an online, end-to-end trading environment across banks and brokers, PS-eTrade enacts the transition to T+1 settlement value date. Further addressing critical financial needs, ProgressSoft will also display 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.

[About ProgressSoft]
Committed to a boundless aspiration towards innovation since its inception in 1989, ProgressSoft has been leveraging the latest in imaging technology to deliver an impressive suite of intelligent solutions to the financial world. Today, ProgressSoft has consolidated its position as the new household name in the banking industry, claiming an active role in shaping the future of a technology-driven era of electronic financial services.
For more information about ProgressSoft, please don't hesitate to visit us at www.progressoft.com or contact us through the following connections:
Yazan A. Goldstein
Corporate Communications Executive
ProgressSoft Corporation
Dir Tel: (962-6) 5623000 ext. 211
Email: Yazan.goldstein@progressoft.com