NBO Wins Prestigious Citi 'Straight Through Processing' Excellence Award

The National Bank of Oman (NBO) has won the prestigious the 2017 “Straight Through Processing” (STP) excellence award from Citi. The award showcases the bank’s high efficiency in Treasury and Commercial Payments of which NBO managed to successfully achieve an STP rate of over 97% and over 95% respectively. This latest accolade joins a long list of recognitions the bank has received over the years for the efficiency and value-added service it offers in automated transactions.

Manam Moshin Al Kindi, Head of Financial Institutions, said, “This is the second consecutive year that NBO has won this global award from Citi, reaffirming our position as the “Bank of Choice” for customers with overseas transactions.”

He went on to say, “Building on our successes, we will continue to enhance and evolve our services and processes beyond paperless banking to offer customers an even faster, seamless and secure experience in collaboration with our growing global network of partners.”

Backed by a highly qualified team, NBO’s Operations Department offers local and international customers an end-to-end service to support their national and global financial needs. Through a range of market-leading tailored solutions, customers can enjoy the freedom and time to focus on their businesses while NBO helps manage their finances.     

The STP award from Citi recognizes financial institutions who have successfully built a fully automated dollar dominated fund transfer platform through which they can process foreign transactions electronically without the need for manual intervention, thereby increasing efficiency and eliminating delays. A key component of the service is establishing a network of global banking tie-ups. Today, NBO has created long-term partnerships and strong relationships with some of the world’s most prestigious global banks, ensuring its customer confidence is never misplaced.