BBK awarded with the Elite JP Morgan Quality Recognition Award for 2016

23 Nov 2016

BBK has been awarded the 2016 Elite Quality Recognition award by JP Morgan Chase, in recognition of the Bank’s outstanding performance of achievements in best in class MT103 STP Rate 98.80%. This is the seventh consecutive year that BBK has qualified for The JP Morgan Quality Recognition  award and with Elite status since 2014.

Mr. Ali Moosa, , Managing Director – Region Executive for MENAT, presented the award to Dr. A.Rahman Saif, General Manager, wholesale banking group and Mr. Rashad Akbari, Assistant General Manager of Operations at BBK Head Office on October 25th.

STP is the automated process of payments without manual intervention which increases processing speed, minimises routing errors, lowers operations and transaction costs while resulting in efficient, rapid payment execution and credit for the bank and the customers it serves. This award is presented to leading financial institutions which have state-of-the-art STP electronic payment services and meet JP Morgan’s stringent processing accuracy criteria. This year, less than 1% of JP Morgan’s total funds transfer clients qualified for this award. ​