Operations Germany recently won high recognition from Deutsche Bank for SEB Germany’s success in sending 97 percent of its payments to Deutsche Bank via straight-through processing. This attests to the high quality of SEB’s payment transactions and saves the customer money – STP processing removes the need for SEB charge extra fees for correcting errors.
Only a few international banks win Deutsche Bank’s Straight-Through Processing (STP) Excellence Award. The purpose of the award is to highlight their achievements in processing outgoing payments.
Stefan Merz, head of Payments Germany, accepted the prize in Frankfurt.
“We are very proud to receive this award. It confirms our achievements in payments and proves that we provide superior quality in payments. The STP process benefits our customers, which is good for the entire bank,” says Merz.
SEB aims to automate its payment processes. Automated processes help the bank reach its goals of increased quality and reduced costs. Non-STP transactions have a complicated transaction cycle and tend to incur additional costs for customers and banks.