Wednesday, November 29, 2023

Sterling Bank of Asia Receives BNY Mellon Straight-through Processing Award 2022

Sterling Bank of Asia (SBA) has once 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 has been consistently granted to the bank for five consecutive years. It is a 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. 

L-R: Luisito Mayor, SBA Operations Group Head & Senior Vice President; Felisa Alcala, SBA Business Support Services Head & Vice President; Cecilio San Pedro, SBA President & CEO; Jun Cristobal, BNY Mellon Senior Vice President, Global Client Support, Treasury Services, Client Implementation and Philippines Market Manager; Cedric Chong, BNY Mellon Relationship Manager, Treasury Services; and Christopher Rocero, SBA Trade  Services and Remittance Head

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. 

This accolade 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. 

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