UAE Exchange bags Deutsche Bank STP Excellence Award for the 8th time

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Deutsche Bank and UAE Exchange

· The leading money transfer, foreign exchange and payment solutions brand won the Deutsche Bank STP Excellence Award for the 8th consecutive year.
· Won awards for both Euro and US Dollar categories.
· Achieved an astounding rating of 100% in Euro and 99.91 % for US Dollar payments.

Excellence is achieved when the art of perfection becomes more of a habit than a virtue.
UAE Exchange keeps pace with the latest in the industry and its constant penchant for excellence has led to its continued success. This uncompromised approach has won the remittance major the Deutsche Bank STP (Straight Through Processing) Excellence Award for the 8th consecutive year. The remittance major’s astounding achievements of 100% STP rate in EUR payments and 99.91% STP rate for USD payments were among the highest in the world.

The Deutsche Bank STP Excellence Award recognises those institutions, across the world, which have achieved an exceptionally high percentage rating in processing error-free payment instructions in US Dollar and Euro currencies.

Mr. Y. Sudhir Kumar Shetty, COO – Global Operations, UAE Exchange, said during the event, “The success of any payment transaction is dependent on the quality of the payment instruction. Achieving highest global standards in Straight Through Processing was a result of continuously improving on our processes, technology & people. This has ensured fastest credit to the customers, which further improved our customer experience and credibility. Receiving this award for the 8th consecutive year proves our commitment towards constantly upgrading technology and consistently striving to achieve excellence. It is a very proud moment for us and we will continue to remember that success is a journey and not a destination.”

Mr. Promoth Manghat, Vice President – Global Operations, UAE Exchange, said, “We are humbled yet again as our penchant for excellence gets recognised by Deutsche Bank. This award is the result of our stringent processes to ensure that every payment transaction is successful. Our no compromise approach helped us raise the standards in Straight Through Processing, improving the speed and experience, bolstering customers’ trust. I take this opportunity to thank Deutsche Bank for their eye for excellence.”

Known for its excellent customer service and widest network among remittance brands,
UAE Exchange has over 700 branches in 32 countries across five continents serving over 6.5 million customers. Strong correspondent relationship with over 150 global banks further adds to the might. With 135 branches in UAE, customers can walk in to the nearest one to address their multiple financial requirements viz. money transfers, currency exchange, bill payments, salary collection and more, under one roof.

Deutsche Bank is a German global banking and financial services company with more than 100,000 employees in over 70 countries, and has a large presence in Europe, the Americas, Asia-Pacific and the emerging markets. The bank offers financial products and services for corporate and institutional clients along with private and business clients. Services include sales, trading, research and origination of debt and equity, mergers and acquisitions (M&A), risk management products such as derivatives, corporate finance, wealth management, retail banking, fund management and transaction banking.

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