Khaberni - Jordan Kuwait Bank announced a new technological achievement that adds to its series of successes in developing its banking operations, following the completion of the activation of the payment platform from ProgressSoft according to the ISO 20022 standard, fully integrated in its branches inside and outside Jordan.
This achievement is in line with the bank's strategy aimed at enhancing the digital infrastructure and improving the efficiency, accuracy, and speed of remittances and financial transactions, which contributes to elevating the level of service provided to customers and reducing operational errors, according to best international banking practices and approved regulatory requirements.
The new Cross-Border Payments and Reporting Standard (CBPR+) has been successfully applied through the payment platform provided by ProgressSoft, as part of a phased plan that began at the beginning of 2025, including updating internal systems and linking them to the Swift network, which enabled the bank to manage payments and financial transactions across borders with greater precision and smoothness. The launch was executed simultaneously in both Jordan and Cyprus, providing regulatory and technical uniformity in both countries within a single governance and technology framework, while maintaining operational independence for each entity, applying fully unified CBPR+ standards and ensuring full readiness for direct engagement with the Swift network.
On this occasion, the CEO of the Jordan Kuwait Bank Group, Mr. Haytham Al-Bateekh, said: "This achievement reflects the bank's ongoing commitment to developing its digital banking services and adopting the latest financial systems compliant with international standards, which provide a more efficient and faster banking experience for our customers and support the efforts towards adopting ISO 20022."
On his part, the CEO of ProgressSoft, Engineer Michel Wakileh stated: "This achievement embodies the fruits of effective cooperation between our teams, as we have succeeded together in creating a model to be emulated for enabling financial institutions to achieve readiness for ISO 20022 across several countries, with joint innovation and harmony in work."
Jordan Kuwait Bank continues to implement digital transformation plans aimed at enhancing innovation and providing various digital banking services, thereby cementing its position as one of the leading banks in the region in adopting the latest financial systems and technologies. This achievement also demonstrates the future scalability of the ProgressSoft payment platform and its ability to support financial institutions across multiple legislative jurisdictions within a standardized structural framework.
About Jordan Kuwait Bank
Founded in 1976 as a national bank in Jordan, Jordan Kuwait Bank has since played a pivotal role in the development of the banking sector in the country. Today, the bank owns a wide network that includes more than 60 branches in Jordan and a branch in Cyprus, reflecting its local and regional expansion and the trust of clients in multiple markets.
The bank's subsidiaries include the Leasing and Financing Company (Jordan), the United Financial Investments Company (Jordan), and the Bank of Baghdad (Iraq), where the bank owns 100%, 78.3%, and 53.4% stakes respectively. The bank also holds strategic investments in the Gulf Bank Algeria and the Bank of Jerusalem in Palestine and the Middle East Payment Services (MEPS) in Jordan, in addition to recently initiating the acquisition of a controlling stake in FIMBank Malta.
The significant shareholders in the bank are Rawabi United Holding Company (Kuwait), wholly owned by Kuwait Projects Company Holdings (KIPCO), and the Social Security Corporation (Jordan), and Odyssey Reinsurance Company (USA) affiliated with Fairfax Financial Holdings, with stakes of 50.9%, 21%, and 5.85% respectively.
Jordan Kuwait Bank is one of the first banks in Jordan to offer advanced digital banking channels and continues today to invest in advanced technical infrastructure including branch networks, ATMs, Interactive Teller Machines (ITM), and advanced payment systems, in line with its customer-centric digital transformation strategy.
For more information, please visit: www.jkb.com
About ProgressSoft
Since 1989, ProgressSoft has been collaborating with banks, central banks, and payment service providers to deliver the most comprehensive suite of advanced financial and payment solutions in the sector.
The company's solutions are fully developed internally at ProgressSoft, and are configurable, interoperable, and platform-independent, allowing seamless integration with any infrastructure and supporting modernization plans without disruption or downtime.
The company operates 22 central payment infrastructures and collaborates with more than 380 financial institutions in 26 countries. It has gained a solid reputation thanks to its extensive experience, commitment to international standards, and proven ability to meet regulatory and national requirements accurately.
The company is distinguished by its partnership-based approach, its continuous responsiveness around the clock, and its commitment to providing expert guidance, combining the reliability of major institutions with continuous innovation. The result is a financial system ready for the future, enabling financial institutions to move quickly, expand smartly, and lead with confidence.
