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ADCB Wins Three Prestigious Awards for Payment Processing

25 November 2012

In Recognition Of Its Advanced Facilitation of Global Cash transactions

ADCB Wins Three Prestigious Awards for Payment Processing

Abu Dhabi, 25 November 2012, Abu Dhabi Commercial Bank PJSC "ADCB" was awarded three prestigious awards by Deutsche Bank, J.P. Morgan Chase and Commerzbank for its exceptional international STP payment processing. The "Elite" quality recognition award from J.P.Morgan Chase is granted to less than 1% of J.P.Morgan's financial institution clients and ADCB is the only local bank to receive this award after it was granted the "Elite" status for the 9th consecutive year.

The STP Award from Deutsche Bank was presented for ADCB's Euro payment messages. Deutsche Bank has strict global eligibility criteria for this award based on both volume and accuracy and ADCB was placed in their top bracket of clients for maintaining an outstanding 99.1 percent error-free rate.

On this occasion, Stuart Pugh, Head of Operations at ADCB said: "Quality matters in ensuring payments reach the right place at the right time. I am delighted that these awards recognise the investment ADCB has made in our systems and people to provide the best customer experience."

Simon Baig, Acting Head of Treasury Operations at ADCB also commented: "At ADCB we strive to offer our counterparties an effective way to complete transactions in a short processing cycle, which in turn facilitates global payments and cash transactions. We remain committed to achieving 100% accuracy and timeliness in all payments processed for our customers."

"It is indeed an honour and a privilege to receive recognition from some of the world's largest banks for our efforts in the payments sector. These awards are a further recognition of the dedication of our team and the bank's long term commitment to improving its overall levels of customer service" Moataz Al Ghalayini, Head of Central Processing Department at ADCB said.

Michael Gehrmann, Senior Relationship Manager, Commerzbank commented: "The STP award is given by Commerzbank AG on an annual basis to financial institutions that delivered outstanding performance in commercial and financial payments. In presenting the award, Commerzbank AG commended Abu Dhabi Commercial Bank for the excellence of its operational services and for the professionalism of its employees."

Christine Doria, Product Executive, J.P. Morgan said: "Less than one percent of J.P. Morgan's total funds transfer clients are able to meet the criteria needed for the award. It is truly a privilege to work with a client that demonstrates a long-term commitment to quality."