Sterling Bank of Asia (SBA) again received the Straight-Through Processing (STP) award from The Bank of New York Mellon for its exceptional payment formatting performance in 2022.
The award was granted to the bank for five consecutive years in recognition of SBA’s commitment to excellence, and its ability to execute payment formatting performance for MT103/MT202 payments with accuracy and speed in financial operations.
STP is a vital performance indicator in the financial industry, measuring payment processing efficiency. The STP award is a testament to SBA’s fulfillment of BNY Mellon’s strict requirements for processing speed, procedural compliance and secure transactions for offshore transactions.
It reflects the bank’s unwavering commitment to excellence and dedication to providing seamless and efficient financial services to its customers.
“In the banking industry’s dynamic and rapidly evolving landscape, recognition of excellence becomes a crucial benchmark for financial institutions,” said SBA president and CEO Cecilio San Pedro.