Progress Systems

Name

Progress Systems

Legal name

Progress Systems Ltd.

Website

https://progress.ie

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Credit Union Banking Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Activities Related to Credit Intermediation (5223)

SIC

Services-Computer Processing & Data Preparation (7374), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Core Banking & Ledger Systems (Cloud Core, Deposits, Accounts) (FSAGAAAC)

akta.pro secondary industries

Processor Back-End & Switch Providers (Issuer/Acquirer Processing Infrastructure) (FSAMABAJ), Payment Reconciliation, Reporting & Settlement Infrastructure (FSAGABAH)

Keywords

• Core banking software
• Credit union solutions
• Digital member onboarding
• Online loan origination
• Clearing network integration

Headquarters

HQ city

Dublin

HQ country

Ireland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Software Licensing and Subscriptions: Progress Systems provides Credit Union core banking software on a licensing basis. The company provides the complete package including core banking, website design, mobile banking, digital lending, digital signatures, biometric onboarding, and AML workflows. Revenue is generated through software licensing, implementation fees, and ongoing support contracts.
2. Support and Maintenance Services: Customer support is a primary revenue driver. Over 90% of Progress employees are in Support and Development departments. Support services follow ISO27001 standards with a structured process including call allocation, severity evaluation, authorised connections, and email reporting. Training seminars are held annually. Support is available six days a week with emergency cover outside hours.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Progress Systems provides an integrated core banking and digital services platform (Progress Banking) to credit unions in Ireland and the UK. The offering combines core banking operations, member onboarding with biometric ID verification, online loan origination with digital signatures, mobile and online banking, credit union website design, and clearing network integration to Intesa San Paulo and CUSOP — all delivered as a single managed software and support package.

Differentiator

Problem solved

Functional benefit

Products and services

• Progress Banking Feature-rich Credit Union core banking platform providing core banking, digital services, and compliance functionality integrated into a single application. Developed using Microsoft .NET with Microsoft SQL Server as the core database. Installed in over 200 credit unions with over 3,000,000 member accounts.
• Website Design Credit union website design and hosting service using Umbraco CMS technology, with built-in editing controls, 24-hour access, SSL encryption, and responsive design. Over 200 Credit Union websites built across Ireland and the UK with public and members-only areas.
• Online Banking

Quantifiable outcome

• 220+ Credit Unions served, with 15% annual user base growth
• +4 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature7 records

Partnerships

Two partnerships are on record, tiered core.

• CUDS (Credit Union Development Society)coreStrategic or Co-development Partner · 1 February 2026CUDS is the Progress User Group that meets every two months with the Progress executive to discuss product development, new requirements, new users, and analysis of the two months support service. They have commissioned independent certifications and audits including Grant Thornton reviews and FMB Accountants financial audits. CUDS is central to Progress's product strategy and customer retention.
• JumiocoreTechnology or Integration · 1 January 2020Progress partnered with Jumio, the global leader in digital biometric ID verification, to provide integrated biometric member onboarding. This API partnership combined with Progress's knowledge of Credit Unions allows Progress to offer what it describes as the most secure, convenient and effective digital member onboarding on the market.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Jack Henry & Associates: US-listed banking technology provider whose Symitar/Episys core platform serves thousands of US credit unions. Most directly comparable as a credit-union-specialist core banking vendor at much larger scale; operates a horizontally broader portfolio than Progress.
• Fiserv: Global financial services technology incumbent with credit union DNA, Payments and core banking solutions (formerly Open Solutions DNA). Comparable as a vertically broad banking-software incumbent competing for the same customer modernization dollars as Progress.
• Temenos: Swiss-listed global core banking software vendor serving retail, SME, and credit union-style cooperatives worldwide. Comparable as a horizontal core banking incumbent that Progress competes against when credit unions evaluate large modernization projects.
• Sopra Banking Software: European banking software vendor serving retail, cooperative, and specialized banks across the UK and Ireland. Comparable as a regional incumbent with overlapping core banking, lending, and digital capabilities relevant to credit union RFPs.

Direct peers

• COCC: US core banking and digital services provider exclusively focused on credit unions, similar in vertical-specialization profile to Progress. Closest US analog to Progress's "credit union only, integrated suite" positioning.
• Corelation: US credit union core processing vendor built on modern architecture, serving hundreds of US credit unions. Direct peer given shared exclusive credit union focus and integrated core/digital offering.

Emerging players

• Thought Machine: UK-headquartered cloud-native core banking platform challenging incumbent core vendors across retail and cooperative banking. Comparable as a modern architecture alternative Progress may face in UK credit union modernization cycles.
• Mambu: Cloud-native core banking platform serving challenger banks, lenders, and cooperatives globally. Comparable as a SaaS-native alternative to legacy on-prem core stacks such as Progress's .NET/SQL Server platform.
• nCino: Cloud banking platform with strong credit union and community bank presence, focused on digital lending, onboarding, and account opening workflows — directly overlapping Progress's digital lending and biometric onboarding modules.
• Backbase: Digital banking platform provider delivering omnichannel, online, and mobile banking software to banks and credit unions. Comparable as a digital-front-end competitor that could be deployed alongside, or instead of, Progress's online/mobile modules.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/156308984429546
• LinkedInlinkedin.com/company/progress-systems
• Xx.com/ProgressSystems

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Progress Systems