KARACHI: JS Bank, one of the fastest-growing banks in Pakistan, received 2021 USD Clearing Elite Quality Recognition Award for its outstanding achievement by JP Morgan, a global leader in financial services, a statement said on Friday.
The Bank won the MT 202 Elite Quality Recognition award, which is given to clients who achieve STP (Strait Through Processing) of 99.7 percent or more.
The award was given based on the bank’s high-quality USD outward MT-202 payments in which 99.93% of transactions were STP without any manual intervention.
Recipients of these awards have to demonstrate superior transaction processing leading to higher efficiencies, faster payments, cost reductions, and honoring of commitments to operational excellence to their customers.
The award was presented to Basir Shamsie, president and CEO of JS Bank by Amin Khowaja, CEO of JP Morgan, in a recent event held at JS Bank head office in Karachi.
Previously, the bank had received quality recognition award by JP Morgan in 2020, based on its robust performance in the domain concerned. With the aim of continuous improvement and creating new benchmarks, the bank has been able to qualify for the Elite Award based on consistent performance and the objective to deliver the best to its customers.
Speaking at the occasion, Basir Shamsie mentioned, “It is a matter of great pride that the awards won by JS Bank recognise the ultimate level of performance by leading client banks like JP Morgan. Our Bank has won this accolade after exceeding the elite benchmarks in both categories.”
“Living up to our motto of a futuristic corporate entity, we work every day to create a positive impact and support economic growth. This means that all our functions work together with the vision to provide impeccable financial service to our customers and this award is recognition of our efforts and a motivation for us to go above and beyond to provide innovative financial solutions,” he added.