JS Bank receives ‘2021 USD Clearing Elite Quality Recognition Award’

KARACHI: JS Bank, one of the fastest-growing banks in Pakistan, has received the 2021 USD Clearing Elite Quality Recognition Award for its outstanding achievement by JP Morgan, a global leader in financial services.

The Bank won the MT 202 Elite Quality Recognition Award which is only 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 percent 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 & CEO – JS Bank by Amin Khowaja, CEO – JP Morgan in a recent event held at JS Bank Head-office in Karachi.

Speaking at the occasion Basir Shamsie, mentioned “It is a matter of great pride that the awards won by JS Bank recognize 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.”

Amin Khowaja, CEO of JP Morgan expressed his confidence in JS Bank and stated, “Committed to its aim of growing forward for the progress and prosperity of the economy, the Bank continues to provide innovative conventional and digital financial solutions to its customers.

Copyright Business Recorder, 2022