Business News of Monday, 23 January 2017
Recently awarded as “Africa’s Best Bank Transformation” at the 2016 Euromoney Awards, Access Bank Ghana has once again received international recognition from the Citibank Group for the prestigious Straight-Through Processing (STP) Excellence Award.
The award acknowledges the Bank for its superior and excellent service through consistent and efficient processing of international funds transfer requests from its customers. It further underscores Access Bank’s continuous commitment in providing customers with seamless and efficient transactions for their international business.
STP enables the entire trade process and payment transactions to be conducted electronically without the need for re-keying or manual intervention.
In a congratulatory message to the Bank, the Acting Country Manager of Citibank Ghana Representative Office, Olivia Kumordzi highlighted that the award is based on measured rates for the year, which showed that Access Bank has achieved a rating of 97%+ for Treasury Payments and 95%+ for Commercial Payments. This distinction is a success for the Bank since it demonstrates the high standard of performance of its human resources and dedication to serving clients.
She added, “Citi Bank is continually seeking higher requirements for formatting of payments. Therefore, achieving a high STP rate means Access Bank is committed to meeting these increasingly higher standards and continuously strives to improve the rate of straight-through processing of international payments which are processed on behalf of your clients, thus a positive impact on customer service.”
The STP rate is considered the most important indicator for quality in the field of payment transactions, reflecting the degree of automation. Values above 90% are considered as very good STP rates.
Commenting on the award, the Managing Director of Access Bank, Mr. Dolapo Ogundimu thanked Citibank for the recognition and noted that the award reaffirmed Access Bank’s quest to deliver on its brand promise of speed, service and security.
Mr. Ogundimu further stated: “I dedicate this award to our loyal staff who have imbibed the culture of excellence and to our customers, who have showed faith in our business throughout the years”.
Over the past three years, Access Bank has stepped up its investments in the area of technology and is at the forefront of providing digital banking solutions to serve various segments of the market.
Some of its innovative e-banking products include the AccessPay – a payroll management solution for companies, AccessTrade – a trade portal that allows corporate customers the convenience of initiating trade transactions electronically and the Easy Cheque Manager – an online based cheque management solution.
The Bank’s robust online banking solution also allows both individuals and corporate entities to make international transfers with just a click, and this is the first of its kind in Ghana. It’s recently upgraded Access Mobile App for instance enable users to perform key banking transactions such as intra and inter-bank funds transfer, bills payment, airtime top up, cheque and ATM card requests and initiating an account opening process among others.
Access Bank has built an acknowledged reputation for service excellence in the Ghanaian banking sector. The Bank continues to invest in its digital banking infrastructure to ensure an excellent customer experience and highly efficient operations, thus helping to reduce banking cost for customers and provide them value for money.