AlRayan Bank, in partnership with ProgressSoft, is pleased to announce its successful integration with Qatar Central Bank’s (QCB) new Real-Time Gross Settlement system (QA-RTGS).
The successful integration aligns with the bank’s commitment to fully complying with QCB’s latest regulatory requirements and adopting the latest technologies to deliver faster, more secure, and more reliable banking services for its clients, while fully supporting QCB’s visionary initiatives to strengthen Qatar’s financial ecosystem.
The integration was achieved through the implementation of ProgressSoft’s Payments Hub RTGS Module, facilitating the settlement of high-value interbank transactions in real time, and providing a secure, efficient, and scalable solution capable of managing growing transaction volumes with zero disruption to its banking services.
Mr. Fahad bin Abdullah Al Khalifa, Group CEO of AlRayan Bank stated: “By embracing advanced technologies and aligning with Qatar Central Bank’s innovative initiatives, we continue to enhance the efficiency, security, and reliability of our services. This achievement underscores our commitment to supporting Qatar’s financial ecosystem and empowering our clients with seamless, real-time banking experiences”.
The implementation is fortified with robust security standards, including ISO 20022, to safeguard transactional data and enable secure high-value payment capabilities. It also enhances customer service efficiency and the ability to meet the evolving needs of the market in a reliable and scalable approach.
“We are honored to collaborate with AlRayan Bank on the successful integration with QA-RTGS,” said Amjad Zawyani, ProgressSoft Qatar’s Country Manager. “This achievement highlights our shared commitment to innovation and excellence in advancing Qatar’s financial infrastructure.”
Together, AlRayan Bank and ProgressSoft remain committed to supporting Qatar’s ongoing financial transformation, setting new standards for efficiency, security, and reliability in the banking sector.