Recently updated on December 21st, 2020 at 12:43 pm
Deutsche Bank AG, has rewarded Ecobank Nigeria Limited, Access Bank, Sterling Bank Plc, Stanbic IBTC and Zenith Bank, for excellence in payment efficiency, cash management and trade finance.
The first award by Deutsche Bank AG, titled “Straight-Through Processing (STP) Excellence Award”, which has been a feature of Nigeria’s financial markets for six years, went to Ecobank Nigeria Ltd, followed by Stanbic IBTC and Sterling Bank Plc.
The award recognises those institutions that deliver outstanding quality in payment efficiency. The nominated banks successfully implemented an STP rate of over 99 per cent throughout 2016, serving to greatly reduce the administrative impact of payment processing, increasing efficiency and ensuring strict compliance with globally recognised payment standards.
The second award category, now in its second year, called the “Global Reach Trade Finance Award”, recognises those institutions that have successfully grown their trade finance processing capabilities across international borders by both volume and quantum of transaction size.
This year, Ecobank Nigeria Ltd, followed by Zenith Bank Plc and Access Bank Plc came out as best performers in this category.
