Gulf Bank has announced that it has been awarded Deutsche Bank’s prestigious ‘EURO Straight-Through Processing (STP) Excellence Award’ for 2012 for its swift payments in Euros. This award, which is made annually, highlights the exceptional quality of the Bank’s commercial and treasury payment systems.
This is the fourth consecutive year Gulf Bank has won the award, and it confirms that measures taken by the Bank in the payments area have met the recognition of associates such as Deutsche Bank, one of the world’s largest financial institutions. Euro Straight-Through Processing (STP) standardizes financial transactions and electronic payments, starting with the transaction initiation and ending with the final settlement.
The award was presented by senior executives from Deutsche Bank, including Mr. Wolfgang Wagner – MD & Region Head for CMFI (EEMEA), Mr. Sumit Roy, Director – Head of Cash Management Financial Institutions – GCC Region, along with Mr. Sorab Khan, Director - Cash Management Financial Institutions – GCC Region. The award was jointly received by Khaled Al-Mutawa, General Manager, International Banking and Investments, Mona Mansour, Deputy General Manager, Operations, Faisal Al-Marzouk, Assistant General Manager, International Banking and Investments and respective senior management at Gulf Bank.
Deutsche Bank gives awards annually to banks around the world that pass criteria based on in-depth evaluation of the quality and level of accuracy of specific banking services.