CAPTION: NDB Bank's payments and settlements process team with the award
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 their 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%.
The award was presented by Asanka Ranhotty, Head of Institutional Cash Sales, Client Management and Trade Finance for Financial Institutions Corporate & Investment Bank – Global Transaction Banking of Deutsche Bank. By winning this award NDB Bank demonstrates to customers and correspondent banks its processing capabilities which are on par with international standards.
NDB Bank which is the first and to date the only corporate in Sri Lanka to officially be certified with EDGE Certification, the leading and only global certification for gender equality at work place, is the parent company of the NDB Group, one of the fastest growing financial services conglomerates in Sri Lanka. The Bank was recently recognized by various awarding bodies for its remarkable achievements. Among the notable awards won were; ‘Best Domestic Bank in Sri Lanka for 2019' by Asiamoney Magazine, 'Bank of the Year in Sri Lanka 2018’ presented by The Banker UK, 'Best Bank in Sri Lanka 2018' by Global Finance Magazine, USA, and Winner - Banking Category at the National Business Excellence Awards of the National Chamber of commerce Sri Lanka. From its inception, the NDB Group which includes NDB Bank, NDB Capital, NDB Investment Banking, NDB Wealth, and NDB Securities has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy. Customers across all group companies have benefited from the product and service offerings of the NDB Group.