(MENAFN - Gulf Times) Seetharaman said, "It is a matter of great pride for Doha Bank to receive the coveted JP Morgan Quality Recognition Award for 2014 and more so since we have achieved the 'Elite Quality Recognition Award' in both the MT103, as well as the MT202 award categories. On behalf of the entire team at Doha Bank, I would like to thank JP Morgan for bestowing this honour upon us."
Since 1997, the awards have been acknowledging the consistent, high-quality performance of JP Morgan's clients' funds transfer operations management and staff in addition to recognising their efforts in achieving best-in-class "Straight Through Processing" (STP) rates.
According to JP Morgan, less than 1% of its total "funds transfer" clients qualified for a "Quality Recognition Award" in 2014, highlighting Doha Bank's "phenomenal success" in exceeding JP Morgan's stringent STP performance standards.
The JP Morgan Quality Recognition Award is divided into two groups, each designated by a Swift message type (MT) and features two categories namely, "Quality Recognition Award" and the "Elite Quality Recognition Award," which is given to institutions that demonstrate the highest level of performance.
Doha Bank qualified for the "Elite Quality Recognition Award" in both the categories with an "exceptional" STP rate of 99.15% for the MT103 Awards and an STP rate of 99.7% for the MT202 Awards.
"As one of the leading financial services companies in the Middle East that is always striving for excellence, we are extremely delighted to have secured high STP rates in both the categories and we look forward to continue surpassing the expectations of our clients, partner banks and customers," Seetharaman said.