NDB Payments and Settlements process recognised by HSBC New York

Tuesday, 22 October 2019 00:29 - - {{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.

NDB won the US Dollar STP excellence award from HSBC New York for the fifth consecutive year. NDB Bank was ranked among the Top 35 of HSBC’s correspondent banks in the world for quality of payment messages.

This recognition is awarded based on stringent selection criteria, evaluating many of their correspondent banks. The selection process includes 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 correct formatting of the messages, as per the international standards are also assessed. The award reflects the capabilities and the quality of the processing team of the financial institution, with a STP ratio of above 99%.

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

NDB Bank, which is the first and to date the only corporate in Sri Lanka to officially be certified with EDGE Certification is a premier retail Bank with over 111 branches across the island, serving millions of Sri Lankans through a host of financial services. From its inception, the NDB Group which includes NDB Bank, NDB Capital, NDB Investment Banking, NDB Wealth, and NDB Securities has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy. Customers across all group companies have benefited from the product and service offerings of the NDB Group.