Sberbank's Award from the Bank of New York for International Payments Quality
Apr 22, 2004
The representatives of the Bank of New York presented Sberbank with an international award "In Recognition of the Highest Quality for Payment Formatting And Straight-Through Rate - 2003" for its achievements in the area.
To provide for high rate of payments processed in fully automated mode (Straight-Through Processing, or STP) Sberbank must ensure faultless formatting of outgoing payments thus avoiding any additional operator intervention and associated penalty fees. The award is conferred in recognition of Sberbank's success in automated generation of outgoing and formatting of incoming messages.
It is not the first award in recognition of Sberbank's achievements in clearing services. The same award was presented to Sberbank by the Bank of New York in 2001 whereas in 2002-2003 similar awards were conferred by two correspondent banks - JPMorgan Chase Bank and Deutsche Bank Trust Company Americas -for USD payments.
Sberbank's Press Service