Burgan Bank Receives STP Award 2016 From CitiBank

Burgan Bank, Kuwait's most dynamic bank, delights in to announce that it has recently been provided Citibank Straight with Processing Excellence Award in recognition of its protected and extensive paying handling services. The prestigious award by one of the most prominent international banks additional shows Burgan Bank's commitment to technological advances, functional excellence and unequaled customer service.

Straight through Processing (STP) allows for the whole trade procedure and settlement purchases to be performed electronically without the requirement for re-keying or human intervention, therefore making certain high quality and accuracy in supplying commercial payments.

Mr. Venkat Menon, Group Chief Operations & Technology Officer stated: "We are pleased by this difference as it further recognizes our sophisticated technological facilities, matching business and regulative needs and providing a boosted banking experience. We continue to be fully commited to buying the most recent modern technologies and in our individuals to ensure quickly, accurate and reputable transfers and other banking operations."

Citibank Straight through Processing Excellence Award 2016 is the initial for Burgan Bank. Formerly, it has actually additionally been awarded, for numerous consecutive years, the Commerzbank Award and the JP Morgan Chase Award, in acknowledgment of its outstanding straight-through outcomes by correctly formatting their SWIFT payments.

Held yearly, the Citibank Award intends to make certain the greatest requirement of banking options are practiced across its broad connect with accuracy being amongst the top standards in analyzing financial institutions' eligibility for the award.