In the third edition of the Global Reach Trade Finance Awards, Zenith Bank has been marked and praised in delivering outstanding quality in payment efficiency. The nominated banks successfully implemented an STP rate of over 99per cent throughout 2017, serving to greatly reduce the administrative impact of payment processing, increasing efficiency and ensuring strict compliance with globally recognized payment standards.
This year, Access Bank Plc, followed by Zenith Bank Plc and Ecobank Nigeria Ltd came out as best performers in this category. At the awards ceremony, graced by more than 60 attendees, Head of Deutsche Bank’s Representative Office in Nigeria, Andreas Voss congratulated the winning financial institutions even as he reflected on Deutsche Bank’s continued commitment to and development of the sub-Saharan Africa region’s financial markets.
The first award, titled “Straight-Through Processing (STP) Excellence Award”, which has been a feature of Nigeria’s financial markets for seven years, went to Stanbic IBTC followed by Ecobank Nigeria.
According to Voss, “These awards are a true testimony of the long-standing and strong relationships Deutsche Bank has with the Nigerian banking industry and of course the winning banks. Deutsche Bank remains a reliable partner, which is committed to assist its Nigerian clients facilitate trade business not only to Europe but across the globe. The winning banks have evidenced their strong capability to offer finance solutions in terms of payments efficiency and trade finance for the benefit of the Nigerian economy. The 2017 edition took place on May 16 at a gala dinner held at The Wheatbaker Hotel in Lagos.