Oman Opts for ProgressSoft’s Nationwide Electronic Check Clearing Solution

11 November 2007

The Central Bank of Oman and the rest of the banking body in the Sultanate of Oman are about to indulge in a sophisticated level of check clearing practices with a nationwide project for implementing an Electronic Image-based solution from ProgressSoft Corporation, the leading provider of intelligent imaging solutions for the financial sector.

Following it's aspiration to comply with the latest technological advancement, the Central Bank of Oman (CBO) will be closely working with ProgressSoft on the Electronic Image-based Check Clearing implementation. Initially, the system will deploy an electronic network to connect CBO with all 10 banks in Muscat and their branches. The following phase of the project will involve countrywide implementations across all the Sultanate's banks and remaining 144 branches scattered over 212,457 square kilometers.

With ProgressSoft’s solution, an electronic exchange of check images and data will replace the physical transfer to and from CBO clearing house service for all member banks.

Recognized as the world’s-first provider of Electronic Image-based Check Clearing since 2001, ProgressSoft has harvested an impressive number of sound accomplishments similar to this project on country wide basis including Qatar, KSA, UAE and Jordan. ProgressSoft is now looking forward to personify yet another success story in Oman to include to its list of numerous successful projects.

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