The Bank of New York Mellon has awarded Sterling Bank of Asia (SBA) the Straight-Through Processing (STP) Award once more in recognition of the bank’s outstanding payment formatting performance in 2022. The bank has been the recipient of this award for five years running. It is an acknowledgment of SBA’s dedication to quality and its capacity to quickly and accurately complete payment formatting tasks for MT103/MT202 payments in financial operations.
In the banking sector, STP is a crucial performance metric that assesses the effectiveness of payment processing. SBA’s achievement in meeting BNY Mellon’s stringent standards for offshore transaction security, procedural compliance, and processing speed is demonstrated by the STP Award.
This award is a testament to the bank’s unwavering commitment to quality and its commitment to giving its clients smooth, effective financial services. “Recognition of excellence becomes a crucial benchmark for financial institutions in the dynamic and rapidly evolving landscape of the banking industry,” stated Cecilio San Pedro, president and CEO of the SBA.