ProgressSoft’s Payments Hub Goes Live at Mashreq

ProgressSoft is thrilled to announce the successful go-live of its cutting-edge Payments Hub Platform at Mashreq Egypt, empowering one of the MENA’s leading financial institutions to effortlessly manage domestic payments with unparalleled efficiency and smooth integration.

One of the standout features of this implementation is the seamless processing of Automated Clearing House (ACH) transactions, optimizing the flow of high-volume, low-value payments between banks nationwide while delivering speed, efficiency and reliability.

In full compliance with the Central Bank of Egypt (CBE)’s requirements and mandates, the platform integrates flawlessly with the CBE’s infrastructure, adhering to the specific message structures and guidelines for ACH transactions. This alignment allows Mashreq Egypt to process payments efficiently and securely, ensuring regulatory compliance while enhancing operational competence.

In addition, the platform effortlessly integrates with the bank's omnichannel platforms, Core Banking System (CBS) and Anti-Money Laundering (AML) systems. This holistic approach not only meets Mashreq Egypt’s business protocols but also ensures a fortified and secure payment environment for its clients, and furthers its aim of being the region’s most progressive challenger bank, enabling innovative solutions for all its customers.

ProgressSoft is proud to partner with Mashreq Egypt on this transformative project and looks forward to the promising results and continued success it will bring in the future.