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Qatar Central Bank taps ProgressSoft for national ACH project

21 October 2009  |  2823 views  |  0 handshake

Qatar Central Bank (QCB) has selected ProgressSoft for the provision of a national Automated Clearing House (ACH) system.

The project will use ProgressSoft's PS-ACH offering, which provides an end-to-end clearing cycle through which remittances and presentment messages can be exchanged between QCB and the banks in real-time.

The vendor says this will accelerate transaction processing, reduce costs and banking fees and improving funds availability.

Bashar Ashal, PS-ACH project manager, ProgressSoft, says: "The project scope was defined to connect QCB with all banks in the country in order to deploy Direct Debit and Direct Credit payment transactions, which provides a simple, secure and reliable means for banks to make payments via electronic transfer."

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