Headlines:
Imaging for Jordan Central Bank
The Central Bank of Jordan plans to install check imaging technology, from ProgressSoft Corp. of Amman.
The central bank, which clears about 22,000 checks a day manually, said that shifting to an electronic system lets checks settle in minutes instead of days.
ProgressSoft said that it installed a similar system in Qatar in February 2003. It did not say how much its systems cost, or when Jordan's will start running.
The Central Bank of Jordan began operations in 1964 and is headquartered in Amman.
Cyota Gets Bessemer Funding
Cyota Inc. has received a $7.25 million investment from Bessemer Venture Partners, a private firm in Wellesley, Mass.
The New York company said last week that it plans to use the funding to develop updated versions of its anti-fraud technology and services.
"The global fraud industry is exploding as phishers, hackers, and spies infest our computers, log our keyboard strokes, pick our pockets, sweep our accounts, and steal our identities," David Cowan, a general partner with Bessemer, said in a press release.
"We decided that if any company could restore trust in our online financial institutions, Bessemer wanted to be a part of it."
Bessemer has also invested in Verisign Inc. of Mountain View, Calif., which Mr. Cowan co-founded, and other anti-fraud companies. Mr. Cowan will become a member of Cyota's board.
