OMAN ARAB BANK RECEIVES BANK OF NEW YORK’S ‘STRAIGHT THROUGH PROCESSING’ EXCELLENCE AWARD

Muscat, January 14th 2024: Oman Arab Bank (OAB) proudly announces its receipt of the ‘Straight Through Processing’ (STP) Excellence Award from the Bank of New York Mellon (BNY Mellon). This recognition, consistently earned since 2018, highlights OAB’s leading position in the financial industry, emphasizing its excellence in secure transaction processing and automotive processes.

Asma Al Zadjali, Chief Banking Operations Officer at OAB, expressed her gratitude, stating, “We are honored to be recognized by BNY Mellon  for our excellence in STP. This award underscores our commitment to customer service and integrating cutting-edge technology into our banking processes, further enhancing our position in the financial sector.”

She added, “The accelerated pace of processing times is a notable advantage arising from OAB’s embrace of automation. This enables transactions to be executed much faster than traditional manual processes.”

OAB’s innovations in automation lead to smoother experiences for its customers, including modification-free rates, instant transactions, and highly accurate outcomes. The STP Excellence Award from BNY Mellon serves as a testament to how OAB leverages operational and technological excellence to deliver high-quality customer experience.

This award signifies OAB’s strategic foresight in adopting and investing in STP technology, aligning with its goal to stay ahead in the competitive financial market. The bank’s focus on process reengineering and automating processes not only addresses the current needs of the banking sector but also positions OAB for future advancements in financial services, reinforcing its dedication to delivering top-tier customer experiences.