Burgan Bank announced that it had been granted the Commerzbank Straight through Processing (STP) Award for the third year, in recognition of the bank’s excellent quality in delivering commercial payments and processing financial institutions transfers.
A distinction from one of Germany’s largest and renowned banks, the STP Award recognizes Burgan Bank excellence in banking and speaks volumes about the bank’s achievements in processing outgoing payments.
The award is in acknowledgement of the consistent, high quality performance and standards that Burgan Bank’s complete range of Euro funds transfer operations management and staff has maintained during the year.
Adrian Gostuski, Burgan Bank Group’s Chief Operating Officer said: “Burgan Bank’s operations excellence has been recognized by Commerzbank for the third time, a step that further illustrates the bank’s leading presence in the global financial services market.
“Over the course of the year 2014 and throughout this year the financial industry faced a number of challenges, and we are extremely proud that despite this, Burgan Bank has continued to maintain high quality performance and standards for funds transfer operations” added Gostuski.
Commerzbank has presented awards in the past to select Euro clearing clients that achieved a best in-class level of operational excellence. These awards are given to clients who achieve outstanding straight-through results by properly formatting their SWIFT payments.