UAE Exchange has won the Deutsche Bank STP (Straight Through Processing) Excellence Award for the 8th consecutive year. The remittance major’s achievements of 100 percent STP rate in EUR payments and 99.91 percent STP rate for USD payments were among the highest in the world.
Y Sudhir Kumar Shetty, COO, Global Operations, UAE Exchange, said during the event: “The success of any payment transaction is dependent on the quality of the payment instruction. Achieving highest global standards in Straight Through Processing was a result of continuously improving on our processes, technology & people. This has ensured fastest credit to the customers, which further improved our customer experience and credibility. Receiving this award for the 8th consecutive year proves our commitment towards constantly upgrading technology and consistently striving to achieve excellence. It is a very proud moment for us and we will continue to remember that success is a journey and not a destination.”
Promoth Manghat, Vice President, Global Operations, UAE Exchange, said: “We are humbled yet again as our penchant for excellence gets recognised by Deutsche Bank. This award is the result of our stringent processes to ensure that every payment transaction is successful. Our no compromise approach helped us raise the standards in Straight Through Processing, improving the speed and experience, bolstering customers’ trust. I take this opportunity to thank Deutsche Bank for their eye for excellence.”
The event was attended by senior officials of UAE Exchange, special invitees and the media.
The Peninsula
