For the second time in less than one year, Bank of Valletta has received an international award for excellence in payments processing. Bank of Valletta has just received the Straight-Through Processing (STP) Excellence Award from Deutsche Bank. This award recognises Bank of Valletta for achieving an excellent level of operational efficiency in the processing of payments. The bank received a similar award from J P Morgan in September 2012.

Charles Borg, BOV’s Chief Executive Office, and Michael Galea, Chief Officer Operations paid a visit to the Bank’s Payments Operations section to congratulate the staff and present them with the award.

“Such awards recognise that Bank of Valletta is excelling at what it does best – providing a quality service to our customers,” said Mr. Borg. “The diligence and constant attention to detail of the BOV team ensures that our customers benefit from faster response time in the delivery of the Bank’s services” added Mr Borg.

Mr. Galea said,” The STP Excellence Award received from Deutsche Bank recognises the excellent quality of the work delivered by our people at the Payments Operations section enabling BOV to deliver a quality customer experience in the area of payments”. Mr. Galea highlighted how BOV continues to widen its payment services, adopting a flexible approach to respond to customer needs.

The STP Excellence Award recognises the excellent standard that Bank of Valletta has achieved in this business function with an average rate of 97.22% of payments processed through the Bank being effected in a ‘Straight-Through’ manner. The global industry average currently stands at 90%.