Ahli United Bank (AUB) has been awarded two STP Elite Quality Recognition awards by JP Morgan for the year 2022.
These awards acknowledge the Bahrain-based bank’s exceptional straight-through processing (STP) rates, an area in which it has a long and proven track record.
It’s worth noting that JP Morgan has been presenting this award since 1997 to recognise its clients’ consistent and high-quality funds transfer operations.
In 2022, less than one per cent of JP Morgan’s total funds transfer clients qualified for a Quality Recognition Award.
AUB excelled in the two categories of this award, achieving a perfect score of 100pc in the MT202 category, which encompasses transactions over $8,000, and a score of 99.92pc in the MT103 category, which covers transactions over $10,000.
Samih Abutaleb, deputy group chief executive for technology and operations at AUB received the award from Sherif Abdelsalam, executive director and regional head of GCC and Turkey financial institutions at JP Morgan.
Mr Abutaleb expressed his gratitude to his team, saying, “I am truly honoured to receive these prestigious accolades from JP Morgan, a prominent leader in the international payment processing industry. These awards are a testament to the superior efficiency of AUB’s funds transfer operations, made possible by the perseverance, talent, and dedication of our team. This is also a natural result of AUB’s staunch belief in transformative initiatives across digital services, human capital and data analytics.”
He expressed appreciation to JP Morgan for recognising their efforts and expressed AUB’s commitment to providing world-class payment services to their valued customers.
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