Deloitte was recently honoured with the Citi Performance Excellence Award for leadership in electronic payment processing.

The award recognises the firm’s performance in payment processing among Citi clients in the UAE, by achieving the highest number of payment transactions with 100 per cent Straight Through Processing (STP) ratio, a measure of electronic payment efficiency in key sectors such as energy, trading, banking, and financial planning, without the need for re-keying or manual intervention.

The award was presented during a client ceremony held by Citi at Emirates Palace Hotel on the sidelines of EuroFinance’s 9th annual conference on Trade, Treasury and Cash Management in the Middle East.

“Citi’s award recognises the role of Deloitte’s outsourcing practice in dealing with client payments. This third-party recognition reaffirms our position in the UAE and rest of the GCC as a leading provider of transaction out-sourcing services,” said Basit Hussain, director, Business Process Outsourcing at Deloitte in Dubai.

Steve Donovan, Citi’s Global Transaction Services Head for the Middle East and Pakistan who presented the award, said: “We are working closely with top financial institutions and financial consultancies to raise the bar in banking technology within the UAE and across the region. Service providers such as Deloitte with outstanding efficiency levels in the domain of electronic payment deserve recognition as they contribute to the industry’s rapid progress.”  - TradeArabia News Service