Wednesday 08 / January / 2025
Muscat: National Bank of Oman (NBO) has won Citibank’s Straight Through Processing (STP) Excellence award. This achievement marks the sixth consecutive year that NBO has received this esteemed recognition, underscoring the bank’s commitment to excellence in the payments sphere. The award highlights the bank’s high efficiency in formatting foreign currency (USD) payments, particularly in Treasury Payments and Commercial Payments, of which NBO managed to successfully achieve an STP rate of over 99.9% and 98.5% respectively.
Zahra Anwar Al Abdullah, Head of Investment and Treasury Operations at NBO, said, “At NBO, we are committed to enhancing our processes to ensure seamless customer experience. Receiving this prestigious award for the sixth time is a testament to the ongoing efficiency of our payments’ processing, demonstrating our unwavering commitment to excellence.”
Citibank, known as a premier provider of U.S. Dollar payment services, plays a crucial role in facilitating financial transactions for numerous banks in the region. The annual STP award recognizes financial institutions that have successfully implemented fully automated dollar-dominated fund transfer platforms, enabling seamless electronic processing of foreign transactions. NBO has established long-term partnerships and strong relationships with renowned global banks, instilling confidence in its customers regarding the reliability of their financial transactions.
