FIDELITY Bank Plc has been honoured by the Germany-based Deutsche Bank for excellence service in banking transactions for 2014. Fidelity Bank had emerged a winner in the Deutsche Bank 2014 Straight Through Processing Award. The STP is an initiative used by companies in the financial world to optimise the speed at which transactions are processed.
Adeola Azeez, deputy country head, Deutsche Bank, Lagos, said although last year was tough for most financial institutions in Nigeria, the German bank still chose to recognise the achievements of local lenders in the corresponding banking space. “Our overall STP is around 97 percent; this was achieved because of our client’s diligence and attention to details. We celebrate our partners for you have all achieved over 99 percent STP rate,” she said.
Ulf-Peter Noetzel, director, global transaction banking, Deutsche Bank, noted that the award was meant for financial institutions using the lender’s trade services. He said the “algorithm for winning the award is based on critical areas of the winning bank. The award shows your commitment to international trade; your dedication to support your customers based in Nigeria and, of course, your outstanding market position you have achieved in trade finance.”
Nnamdi Okonkwo, managing director, Fidelity Bank, commended the foreign lender for recognising its efforts to satisfy its customers in the corresponding banking space. He said, “This is an award for efficient processing of trade transactions, the Straight Through Processing. It’s just a testament of all the improvement our bank has been making in how it processes trade transactions. I think this is like the fifth time we’ve been coming up here for this award and we are very pleased that each year we get nominated.”
The two banks restated their commitment to promoting international trade between Nigeria and Germany as well as other countries. First Bank of Nigeria Limited and Ecobank Nigeria also emerged winners in the award programme.
— Jun 22, 2015 @ 01:00 GMT