Al Masraf wins Deutsche Bank’s EUR & USD STP Excellence Awards for 2013 for the exceptional quality of payment messages
- On 02/08/2013
Al Masraf was honored with Deutsche Bank’s prestigious 2013 Euro and US Dollar Straight Through Processing Excellence Awards for the exceptional quality of Euro and US Dollar Payment Messages. These coveted awards were conferred on the bank for having maintained an outstanding 99.21 per cent error-free rate for Euro remittances sent last year and an outstanding 97.82 per cent error-free rate for US Dollar remittances sent last year.
These awards were based on Deutsche Bank’s evaluation of the quality and accuracy of SWIFT payment messages routed through Deutsche Bank during the year 2013. The criterion for 2013 was that the client has to achieve above 97% STP rate and sends more than 10,000 payments a year. Additionally, Al Masraf has been consistently receiving the EUR STP award from Deutsche Bank every year since 2008. This was the first year the bank received the award for the USD STP also.
Mr. Faisal Galadari, Chief Executive Officer received the award from Mr. Mahran M Najeeb, Director – Global Transaction Banking , Cash Management FI, Deutsche Bank at the awards ceremony held on 22nd June 2014 at Al Masraf Head Office in Abu Dhabi. Others who attended the award ceremony from Deutsche Bank included Mr. Angel Perez Camacho, Director – Head of Customer Service MENA and Ms. Najma Salman, Vice President – Sales and from the bank Mr. Zoubir Saidi, Assistant General Manager – Business Development & Trade, Mr. TN Raja , Head of Operations, Mr. Osman Suliman, Manager – Financial Institutions, Mr. Abdul Azeez, Manager – Remittances and Mr. Adel Amara, Relationship Manager – Financial Institutions.
CEO took the opportunity to appreciate the efforts and congratulate the Central Operations team for achieving this high rate of efficiency and getting Deutsche Bank’s awards.