On March 25, 2013, Vietnam Technological and Commercial Bank of Vietnam (Techcombank) was honourably granted the STP Award (Straight-Through-Processing) by Bank of New York Mellon in recognition of Techcombank’s outstanding achievements in international payments.
STP is one of the most important criteria to assess the quality of banks’ automatic payment. With a high STP rate, Techcombank customers’ international payment transactions are processed in a quick and accurate manner; meanwhile, the Bank can save time and costs while minimizing risks, and the likes.
Over the years, Techcombank consistently received numerous STP awards, with STP rate among the best banks in Vietnam. This is a confirmation on Techcombank’s strong capacity in its international payment. Not merely Bank of New York, but a number of other prestigious correspondent banks have also granted this Award to Techcombank such as HSBC, Wells Fargo, Standard Chartered Bank, Citibank, and JP Morgan Chase.
The prize on international payment by Bank of New York Mellon is another recognition of a large international financial institution of Techcombank’s efforts in enhancing its service quality towards a bank of international standards. Beside this award, in 2012, Techcombank also received numerous awards in other fields by other prestigious international organizations such as Journal of Finance Asia, Asian Banking & Finance Magazine, Magazine Alpha Southeast Asia, Global Trade Review Magazine, Global Finance, and so forth.