[Ghana] Stanbic awarded 2014 'Straight Through Processing’ prize

Stanbic Bank Ghana, a member of the Standard Bank Group, Africa’s largest bank has won the 2014 Deutsche Bank Certificate of Excellence for US dollar-based cross border ‘Straight Through Processing’ (STP) payments.

The current award which marks the fourth year in a row that Stanbic has claimed the prestigious prize, is in recognition of international trade payment with a high STP rate in excess of 97%.
Doris Dzeha, Head Operations for Stanbic, said the bank is humbled by this recognition which has come after a rigorous process.

“This achievement means a lot,” she said. “It signifies our customer focused teamwork. Achieving quality STP means payments to beneficiaries of customers are timely. As with all financial processing, the time value for money is a critical component and high grade STP provides that perfect edge.”

Stanbic continuously strives to improve the rate of straight-through processing of international payments which are processed on behalf of its clients while upgrading its customers’ experience to provide the best of service.

“This distinction is a success for the bank since it demonstrates the high standard of performance of its human resources and shows their dedication to serving clients,” she added.

Introduced over a decade ago, the yearly awards are for respondent banks that achieve STP rates between 97 percent and 100 percent.

Deutsche Bank is the world leader in foreign exchange transactions. Over 500 banks are eligible for the awards which are given for outstanding performances and high volume transactions with respect to US dollar based annual payment processing. It covers approximately 170 respondents in Africa.

For the 2014 period, 14 received STP awards in US Dollars and three in Euro. The Standard Bank Group won eight of the 14 USD awards and one out of the three Euro awards.

www.stanbicbank.com.gh