NDB recognised for payments and settlements process by Deutsche Bank New York

Tuesday, 16 October 2018 00:23 - - {{hitsCtrl.values.hits}}

NDB recognis ed for Payments and Settlements Process from Deutsche Bank New York Team

NDB recognised for Payments and Settlements Process from Deutsche Bank New York

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

NDB Bank has won the 2017 Operational Excellence Award from Deutsche Bank New York for Straight Through Processing, reflecting the high standard of accuracy maintained. This recognition is awarded based on strict 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, accuracy and comprehensive screening for sanctioned or black listed beneficiaries as per the international standards are also assessed. The award reflects the capabilities and the quality of the processing team of NDB Bank, with a STP ratio of above 99%.

The award was presented by Asanka Ranhotty, Vice President, Head Institutional Cash and Trade Finance Financial Institutions of Deutsche Bank.

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

NDB Bank is an affiliate of the NDB Group, one of the fastest growing financial services conglomerates in Sri Lanka, with the strategic mission to be the dominant leader in the financial services and banking sector.

From its inception, the group which includes NDB Bank, NDB Investment Banking, NDB Wealth, NDB Securities, and NDB Capital has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy. Its customers across all group companies have benefited from the product and service offerings of the NDB group.