Eximbank receives international banking award

11:59 | 11/07/2018
US-based Bank of New York Mellon on July 9 granted Eximbank the Straight Through Processing Award (STP Award).
eximbank receives international banking award
Senior management team from BNY Melllon presenting the STP Award to Eximbank

The award was presented to Nguyen Ho Hoang Vu, Eximbank’s deputy CEO cum CFO, by BNY Mellon’s senior management team, including Arnon Goldstein, MD, regional head, relationship management–APACMs, and Sharon Quek, VP, regional manager, relationship management.

The annual STP Award is given by international banks to correspondent banks who have Nostro accounts with them for international ‘straight-through-processing’ (STP) electronic payment services.

This is the eighth consecutive year Eximbank is granted this award, not only by BNY Mellon for its high rate of “straight through processing” messages that are recognised at 97 per cent during 2015-2017, but also from other international banking giants like HSBC and JP Morgan Chase at 99 per cent and 98 per cent, respectively.

“This award is a sound example of BNY Mellon’s recognition of Eximbank’s operational performance, professionalism, service excellence, and expertise,” said the senior management executive of Eximbank.

For a long time, Eximbank has been known for its quality international settlement services and this award represents strong support and partnership from the correspondent banks to Eximbank.

Looking at the mutual achievements gained over the last 20 years, the two banks believe that their partnership shall be strengthened, thus bringing about more benefits for customers.STP—Straight Through Processing—is a banking term that describes the operational excellence of a bank in originating and processing electronic payment messages to its correspondent banks and then the beneficiaries in an end-to-end automated electronic payment process.

Eximbank, with more than 29 years in operation, now seen as one of the fastest developing financial institutions which is offering prestigious and quality products and services based on its cutting-edge technology platforms.

The bank is continuously enhancing its competitive capabilities in efforts to head for strategic sustainable development targets that embrace innovation inside as the core to create more values for its corporate and individual customers, thus realising its future expectations.

BNY Mellon Corporation is a global banking and financial services provider and one of the three oldest banks in the US. It was formerly known as Bank of New York that was established in 1784 by Aaron Burr and Alexander Hamilton.

This corporation was later incorporated in 2007 after the merger of The Bank of New York and Mellon Financial Corporation. As of December 31, 2017, BNYM manages total assets of $371 billion and was one of the world’s 100 largest banks.

By Thuy Vinh

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