Members News

ProgressSoft and ALRajhi Bank Jordan signed an agreement to launch ProgressSoft’s Payments Hub Platform featuring seamless integrations with the local market infrastructure, a suite of Swift services including Swift gpi, Swift Go, and ISO 20022 migration for full-fledged CBPR+ payments management, and much more.

Telecom Egypt, the first integrated operator of communications and information technology services in Egypt, in cooperation with Huawei Technologies, the leading global provider of information and communications technology (ICT) infrastructure and smart devices, announced the implementation of the first eco-friendly, integrated solution to provide mobile networks via utilizing environmentally friendly tower made of Fiber Reinforced Polymer (FRP), with wireless availability.

Through this cooperation, Telecom Egypt will become the first operator in Egypt and Africa to install this green tower which will serve as the optimum steel alternative, which causes high emissions of carbon dioxide. The tower is approximately 18m high, with a special camouflage fence made of environmentally friendly materials, supported by integrated wireless access solutions and a green solar energy system. The tower is characterized by its high resistance in severe environmental conditions, such as corrosion due to the exposure to chemicals and high temperatures.

The Managing Director and CEO of Telecom Egypt, Adel Hamed, said that the implementation of this type of mobile site in Egypt is unprecedented and has also underscored the efforts done by all those in charge of the project, and their capability of implementing the entire site in a timely manner and a systematic way, as per the best international quality standards that have to do with the green concept solutions.

Mr. Adel further explained that Telecom Egypt’s green external sites also depend on modern technologies for wireless access devices, such as the technology of antennas integrated with signal amplifiers, which contribute to reducing the energy consumption of one site by about 40%, if compared to traditional sites.

According to Mr. Adel, these modern technologies also contribute to improving the signal quality by about 20%, when compared to regular antennas, which will further result in reducing the number of stations to be installed, enhancing the preservation of the environment, and hence achieving the aimed-for sustainable development.

He also added that Telecom Egypt relies on state-of-the-art versions of operating software that support the latest features, pertinent to energy saving, such as the feature of turning off signal amplifiers for some frequencies during low load hours, which helps in reducing energy consumption by an average of 24%.

Jim Liu, CEO of Huawei Egypt confirmed that the company dedicated great attention to developing the infrastructure of Information and Communication Technology in Egypt which is why they have joined hands with Telecom Egypt, the leader in the telecommunications market in Egypt and the Middle East.

He added that Huawei is keen on harnessing all the necessary, innovative technologies to save energy to build a sustainable future, which certainly generates zero carbon emissions. He also pointed out that recent studies have shown that FRP poles produce 43% less carbon dioxide emissions, compared to steel, and reduce E2E energy consumption by nearly half for manufacturers and related transportation.

He also explained that energy solutions for green outdoor sites depend on passive cooling, which eliminates the need for air conditioning and thus leads to a 47% reduction in energy consumption compared to sites with indoor rooms for devices. He also clarified that the process depends on the integration of solar energy with the main electricity network, with relative dependence on green energy, namely the solar one, as the solar panels will provide about 2 kilowatts, which will lead to a reduction of carbon dioxide emissions by 20%.

It is worth mentioning that the goal of developing an environmentally friendly green site is to use smart materials instead of the traditional ones that were previously used in mobile terminals. For instance, reverting to FRP in manufacturing leads to minimizing steel sections up to 95%, which results in minimal pollution to the environment. Moreover, it is smarter to use integrated Radio Access Network (RAN) equipment, which has bandwidth carrier dynamic shutdown and time domain deep code shutdown, which will reduce power consumption by about 24 % in a low traffic period.

ProgressSoft’s Co-Founder and Chief Executive Officer, Michael Wakileh, looks back on an impactful 2022 and anticipates what is to come for all stakeholders in 2023. https://bit.ly/3YNsoYG

Dear partners, colleagues, and stakeholders,

The world is in times of turbulence: climatic, economic, and financial, with the situation foreshadowing mixed fortunes for many industries and economies in 2023 and beyond.

But as wise Peter Drucker once said, “the greatest danger in times of turbulence is not the turbulence, it is to act with yesterday’s logic.”

We may not be certain of what is to come for the financial industry, however, we can choose to adapt our practices to not only survive the rain but use it to grow. With that, I must highlight the importance of letting go of outdated solutions that aim to resolve new challenges.

The demand for user-friendly and portable financial services will not wait for any technology or institution, so we must keep moving, keep growing, and keep persevering in the face of massive change and uncertainty. This is where we are headed.

As to where we have been, an eventful year to say the least with a lot of collaboration and active change that we were honored to witness and be a part of in the financial sector.

We commenced the year with the Advancement of Digital Currency in Interoperability Award by the Digital Currency Advisory Committee in Washington D.C. recognizing our Central Bank Digital Currency solution and its ability to revolutionize the future of interoperability in cross-border financial ecosystems. We collaborated with tens of central banks on the topic, resulting in valuable discussions and transformative decisions that will impact generations to come. We are proud of our progress in this domain as one of the world’s first innovators of CBDC.

Throughout the year, we discussed, signed, and launched projects catering to governments, regulatory body national strategies, and banking digital transformation initiatives. We celebrated major upgrades, successful migrations, first-of-their-kind implementations and big milestones for us and for our clients.

We were also major exhibitors at some of the most prominent events for the financial industry in Athens, Amsterdam, Barcelona, Kigali, and Washington D.C. It is part of our commitment to being among our clientele across the 5 continents and ahead of the latest updates in the global financial sector.

Before long, we were celebrating yet another prominent milestone in our domain. Our Payments Hub Platform was among the first 3 solutions worldwide to be awarded with the SWIFT Compatible Application Payments Label, marking the beginning of our contribution to the evolution in global payments and the financial industry’s ISO 20022 migration period.

Our successes remain incomplete without our corporate social responsibility. In 2022, we continued to cultivate a culture centered around giving back to the community and environment through several green initiatives, care packages, and health awareness sessions. But above all, we massively contributed to elevating education and empowering a new generation of students through fruitful collaborations with the private and public sector. We hope to see that impact grow in 2023.

Finally, after 33 years of guiding over 370 financial institutions in their digital transformation journeys, we now recognize a major shift in our scope of work: a new intersection of services among financial institutions, mobile network operators, fintechs and exchange houses. Accordingly, a major announcement by ProgressSoft is in store for 2023, and it will be an exciting journey that we look forward to pursuing with our clients and the entirety of the financial sector.

Lastly, my sincere gratitude goes to our colleagues in our 6 offices across the globe for their diligent work. Our outcomes will continue to leave a mark on nations, institutions, and citizens – and it is with great thanks to all our stakeholders that we sustain this impact so wonderfully.

Wishing you a happy 2023.

Sincerely,

Michael Wakileh

Zain Jordan and Huawei signed on 27th of December 2022, the first Commercial Use for WIFI MSP Cooperation in Jordan.

Aspire celebrated its 20th Anniversary milestone, where the founder and managing director – Kaushal Shah expressed how proud and thankful he is, celebrating with Aspirers and their loved ones!