HDBank wins two awards from J.P Morgan Chase Bank for achieving excellent straight-through payment rates of 99.94 percent and 99.68 percent in MT202 and MT103. (Photo courtesy of the bank) HCM City(VNS/VNA) - For its almost 100 percent success rate in straight-throughprocessing, the Ho Chi Minh City Development Joint Stock Commercial Bank hasreceived the MT202 and MT103 STP awards for international payment services fromJ.P. Morgan Chase Bank.
This is the third year in arow HDBank has won the MT202 award, and the second year it has received the MT103award.
Both are given by J.P MorganChase Bank, the US’s largest lender in terms of assets and the world’s largestUS dollar clearing agent.
HDBank’s STP rates exceed thebenchmarks set by global credit institutions.
According to JP Morgan Chaseand other large institutions and agents providing clearing services in thegreenback and euro, the STP rate for international electronic payment iscurrently 89–90 percent on average.
With an exceptional STP rateof 99.94 percent for MT 202 and 99.68 percent for MT103, HDBank was one of thefew Vietnamese banks to win the top prize.
This underlines the prestigeand quality of HDBank’s international payment services with its moderntechnology platform and employees’ professional competence in meeting thefinancial transaction needs of customers around the world.
According to JP Morgan Chase,HDBank is its leading banking partner in Vietnam in terms of both size andquality of international payment services.
HDBank's business performancethrough the JP Morgan Chase system has continued to thrive even amid the challengesfaced by the global and Vietnamese economies due to the impacts of COVID-19.
With its relationships withmore than 400 agents who are banking institutions and strategic co-operationwith many leading Vietnamese and international partners, HDBank has extensiveinternational payment operations and its international payment services qualityis recognised also by other leading lenders such as Wells Fargo, Deutsche Bank,Citibank, and BHF – Bank.
HDBank is also a pioneer inbringing effective added value to customers around the globe through investingin and using modern technologies in its services and products, especiallyinternational payment services, digitising processes, meeting managementrequirements according to international standards, and constantly improvingoperational efficiency with a commitment to bringing the maximum benefits tocustomers.
HDBank became the first lenderin Vietnam to join the TradeAssets Trade Finance E-marketplace to connect withand process trade finance transactions on the blockchain application platform,and Contour, an open trade finance network.
HDbank also deploys the globalpayment query service via Swift GPI and is a pioneer in providing internationalmoney transfer query services via Swift GPI in various currencies like USD,GBP, EUR, CHF, AUD, CAD, JPY, THB, NZD, HKD, and SGD.
At the same time the bank hassuccessfully put into operation the Treasury - FIS Front Arena system toseamlessly meet the requirements involved in handling business transactions andmanaging currency trading risks.
In addition to retaining itsleading position in digitisation in the banking sector, HDBank remains on ahigh growth path in the third quarter of the year.
Moody's credit rating agencyhas maintained a credit rating of B1 for HDBank.
In 2020, in addition to theExcellent International Payment Quality award, HDbank has won a number ofprestigious honours from local and international organisations such as the‘Best Innovation in Green Banking’ and ‘Most Innovative Mobile Banking App’awards from Global Business Outlook magazine, a place in Forbes magazine’s top50 listed Vietnamese companies list, ‘Mid-sized Domestic Retail Bank ofthe Year’ award from Asian Banking & Finance, and a place in the ‘BestCompanies To Work For in Asia’ list compiled by HR Asia./.
VNA
