Bank of Valletta receives the J.P. Morgan Quality Recognition Award

Bank of Valletta has announced their receipt of the J.P. Morgan Quality Recognition Award in acknowledgement of the consistent, high-quality performance and standards that Bank of Valletta’s funds transfer operations management and staff has maintained for the current calendar year.

Since 1997, J.P. Morgan has presented awards to select US dollar clearing clients that have achieved outstanding straight-through results by properly formatting their SWIFT payments.

“This award illustrates Bank of Valletta’s leading presence in the global financial services market,” said the bank’s executive head of operations Lawrence Micallef, pointing out that the fact that the bank had been able to maintain outstanding levels for a number of years clearly marked it as a leader in meeting today’s operating challenges.

“This award clearly designates Bank of Valletta as an industry leader in achieving operational excellence in the area of payments. In today’s payments scenario, the STP rate is a very important concept as it drives operational efficiencies that trans- late into lower operational costs as well as faster execution time frames in the processing of customer and institutional payments,” he added.

“Less than one per cent of J.P. Morgan’s total funds transfer clients are able to meet the criteria needed for the award,” said J.P. Morgan product executive Christine Doria. “It is truly a privilege to work with a client that demonstrates a long-term commitment to quality.”