29 November 2017 10:10 am
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 US Dollar STP excellence Gold award from Deutsche Bank New York. 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 the financial institution, with a STP ratio of above 99 percent.
By winning this award NDB Bank demonstrates to customers and correspondent banks its processing capabilities which are on par with international standards.