NDB wins 2018 USD Operational Excellence Award 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 2018 USD Operational Excellence Award from Deutsche Bank New York for “Straight Through Processing” for the third consecutive year, reflecting the high standard of accuracy maintained.
This recognition is awarded based on strict selection criteria, evaluating many of its 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 percent.
The award was presented by Deutsche Bank Institutional Cash Sales, Client Management and Trade Finance for Financial Institutions Corporate and Investment Bank Global Transaction Banking Head Asanka Ranhotty.
By winning this award, NDB Bank demonstrates to customers and correspondent banks its processing capabilities, which are on par with international standards.