ProgressSoft has grown exponentially, both internally and externally since its inception in 1989. With offices spanning several countries across the globe, ProgressSoft serves a diversified clientele in banking, financial, IT, communication and commercial sectors by fully utilizing its proactive teams, regional knowledge and long-standing global trend awareness.
ProgressSoft provides a pioneering Total National Payments System (TNaPS) to economies at large, consolidating solutions all in one system in the fields of Central Bank Digital Currency, Mobile Payments Switching & Clearing, Mobile Payments, Real-time Retail Payments, Electronic Bill Presentment & Payment, Real-Time Gross Settlement, Automated Clearing House - Direct Credit and Direct Debit, Mandate Management, Electronic Funds Transfer and Electronic Check Clearing. This is in addition to Wage Protection, Dispute Management, Real-time Securities Trading Settlement and Signature Verification and Intelligent Signature Recognition. ProgressSoft’s TNaPS finalizes payments instantly using Blockchain-based Central Bank Digital Currency (CBDC), or by settling them using e-money through ProgressSoft’s RTGS solution.
In recent years, immediacy has become a necessity. New solutions were required that continuously strive to provide this. The case in the payments industry is no exception. To serve this goal, ProgressSoft launched its nationwide Real-time Retail Payments System, PS-RPS, designed to operate on a 24x7x365 basis to serve and fulfill the demands of consumers and to provide them with flexibility and promptness. This is in addition to several other solutions in fields including, but not limited to, electronic funds transfer, dispute management and corporate banking.
In the era of digitization, traditional money risks becoming an outdated instrument of payment as central banks move towards issuing their own digital currency to meet the rapidly evolving market and consumer needs. ProgressSoft believes there is a need for central banks to adopt a controlled approach towards building a secure, functional digital currency that offers the required level of anonymity but maintains a traceable transaction process which is only accessible to the authority that operates the system. To this end, ProgressSoft pioneered its Blockchain-based Central Bank Digital Currency solution, PS-CBDC.
ProgressSoft’s PS-CBDC solution is an advanced, secure form of cryptocurrency built on the most advanced form of permissioned distributed ledger technology. PS-CBDC provides currency with technological support and security by design at its core with a one-to-one exchange rate with fiat money. It is the most advanced form of currency that serves as a practically costless medium of exchange, a secure store of value and a stable unit of account.
ProgressSoft also launched the world’s first instant mobile payments system that provides immediate transfer of value using the Blockchain-based cryptocurrency, CBDC.
Today, ProgressSoft serves 370 central banks and banks in 24 countries across the globe and boasts a record of thousands of installations including implementations at a countrywide level. Co-creation is ProgressSoft’s key ingredient to success; whereby clients are not only consumers, but they are pro-sumers who are involved in all phases of software development and implementation using Scrum and Extreme Programming methodologies.
ProgressSoft continually brings its solutions closer to markets globally by annually exhibiting at the most prominent international events including Sibos, Mobile World Congress, Central Bank Payments Conference and additional distinguished FinTech exhibitions. The continuous presence in these global events allows ProgressSoft to stay connected to other major players in the global financial community, which enables the company to be the first to address their arising needs.