Qatar Central Bank taps ProgressSoft for national ACH project
21 October 2009 | 2844 views | 0
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."