ProgressSoft Corporation, a renowned provider of real-time payment and imaging solutions, and S1 Corporation (Nasdaq: SONE), a leading global provider of multichannel financial services software, signed a strategic partnership under which ProgressSoft will resell the S1 Corporate Banking and S1 Trade Finance solutions in the Middle East and North Africa [MENA] regions.
S1 Corporate Banking and S1 Trade Finance has been successfully implemented at a number of large, globally renowned banks, and garnered several industry accolades, including top scores from Celent Communications, more best-in-class awards than any other vendor from Aité Group, and 10 best-of-breed awards from Greenwich Associates.
As the provider of the world's first Electronic Image-based Check Clearing Solution, ProgressSoft has managed to acquire and nurture a wide client base that exceeds 140 banks in several regional countries, all of which are currently deploying the company's solutions on a nationwide scope.
"Our partnership with S1 complements our portfolio of solutions to the banking body in the region and allows us to answer the needs and requirements of our customers," said Michael Wakileh, CEO of ProgressSoft. "Working in collaboration with S1, ProgressSoft is now able to further enrich its loyal clientele and growing prospects with the latest corporate banking and trade finance solutions."
"For S1, the Middle East and North Africa regions are strategic to the company's vision of providing tailored banking services to globally-focused financial institutions," said Jan Kruger, S1 Division President. "Partners like ProgressSoft are critical to the success of this vision and together we can deliver to these institutions, in a very regionally relevant way, innovative front office banking and payments solutions."