Kuwait Finance House Malaysia wins STP Award by Citibank for the second year!

Kuwait Finance House (Malaysia) Berhad (“KFH Malaysia” or “the Bank”) won the SWIFT Straight Through Processing (STP) Award by Citibank Berhad (“Citibank”) for two consecutive years. This is in recognition of KFH Malaysia registering STP in Remittance and Clearing rates of 97% for 2018. In the previous corresponding year, the Bank registered 95% in STP in Remittance and Clearing for 2017.

Quote from Norashikin Mohd Kassim, Chief Treasury Officer for Kuwait Finance House Malaysia:

“This milestone is a reflection of the Bank’s meticulous dedication to deliver the best service in entirety to our customers. It will be a catalyst for KFH Malaysia to innovate and better its current standing.”

Quote from James Ang, Head of Financial Institutions, Public Sector, Citibank:

“Congratulations to KFH Malaysia on winning the award the second consecutive year. This clearly reflects the Bank’s commitment to service excellence and state-of-the-art international STP electronic payment service which meet the stringent correspondent banking and processing accuracy criteria.”

The SWIFT STP Award by Citibank is an annual award recognising financial institutions that have an STP success rate of at least 95% and above where STP refers to the point-to-point execution of a transaction without any error, repair or human intervention. A financial transaction using STP will be delivered to the recipient in a timely manner without any delay and with no additional costs due to repairs or errors.