THIS DAWN — Fidelity Bank Plc has been recognized by Citigroup with the prestigious Straight-Through Processing (STP) Excellence Award for 2024, underscoring the bank’s leadership in operational efficiency for foreign currency transactions.
The award highlights Fidelity Bank’s exceptional performance in cross-border payments.
In its performance index, the bank achieved an impressive STP rate of over 97 percent in concluding U.S. dollar transactions during the period under review.
STP refers to transactions processed seamlessly and accurately without human intervention, ensuring cost-effectiveness, speed, and reliability in international financial operations.
Citigroup is a global banking giant headquartered in New York and operating in more than 160 countries.
It annually honors select financial institutions that demonstrate the highest levels of efficiency in foreign currency payments.
Fidelity Bank has consistently earned this recognition over the years, reinforcing its reputation as a trusted partner in global financial services.
Dr. Nneka Onyeali-Ikpe, Managing Director and Chief Executive Officer of Fidelity Bank Plc, attributed the achievement to the bank’s commitment to innovation and customer-centric solutions.
“This award reflects the quality of initiatives we have implemented to simplify cross-border payments for our customers.
“It affirms our commitment to delivering cutting-edge services in servicing our valued customers,” she said.
The accolade adds to a growing list of honors for Fidelity Bank, particularly in deploying innovative products and services to meet evolving customer needs.
Notably, the bank was recognized by the Nigeria Customs Service as the first institution to successfully process Customs Duty and the Pre-Arrival Assessment Report (PAAR) on the Unified Customs Management System (UCMS).
In addition, Fidelity Bank won Most Innovative Bank of the Year and Best Bank for Export and Trade Finance at the 2025 BusinessDay Bank and Other Financial Institutions (BAFI) Awards.
“We are delighted by this recognition and remain committed to providing seamless, value-adding services to our customers as we pursue our mandate to help individuals grow, support businesses to thrive, and propel economies to prosper,” Dr. Onyeali-Ikpe added.
The latest honor from Citigroup cements Fidelity Bank’s position as a leading player in Nigeria’s financial sector and a reliable partner in global payment systems.
