International recognition for NDB’s payments and settlements process

Thursday, 23 November 2017 00:27 - - {{hitsCtrl.values.hits}}

NDB Bank’s payments and settlements process which is one of the best in the market, has once again won international recognition for quality, timeliness and straight through processing of international payments effected.

This year NDB Bank has won US Dollar STP excellence award from HSBC New York for the third consecutive year. This recognition is awarded after a strict selection process according to global standards.

The selection criteria include the quality and the quantity of the payments effected by the winning Bank and the percentage of payments that qualify to be passed straight through the international payment system without manual intervention. The assessment also reviews the correct formatting of the messages, accuracy and comprehensive screening for sanctioned or black listed beneficiaries as per the international standards. The award reflects the capabilities and the quality of the Payments Processing team of the financial institution.

By winning this award consecutively, NDB Bank showcases to customers and correspondent banks its processing capabilities which are on par with international standards.