Techcombank wins STP Award

December 15, 2014 | 10:41

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Vietnam Technological and Commercial Joint Stock Bank, commonly known as Techcombank, has won the Straight-Through- Processing (STP) Award by Citibank for its advanced payment capabilities.

The STP Award is granted to banks with high quality of payment services based on straight- through processing (STP) rate, an important indicator for accuracy and automation of payment messages. With a high STP rate, Techcombank is able to provide timely and accurate payment services, at the same time, save time and costs for the bank and its clients. The award also confirms advanced IT infrastructure and excellent capabilities of operations staff at Techcombank.

Speaking at the award ceremony, Techcombank’s Head of Financial Institutions Do Diem Hong emphasised: “We would like to thank Citibank for all your support during the years. With over 20 years operating in Vietnam, Citibank has supported us to expand our international business, especially in trade finance and payment areas. We value and treasure the relationship with Citibank and let us work together to better serve our clients in Vietnam and global-wide".

Apart from Citibank, many other international banks like Bank of New York Mellon, Wells Fargo, Standard Chartered Bank, HSBC and JP Morgan Chase have also recognised and granted international payment awards to Techcombank for a number of years in a row. The STP Award from Citibank is the 17^th award that Techcombank has received from many different institutions in 2014.

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional