Media Room
18 Jan 2021
BCS Bank Receives Three Awards from J.P. Morgan

J. P. Morgan praised BCS Bank’s team for excellence in STP (straight through processing) in 2020. Only fewer than 1 percent of J. P. Morgan’s STP customers were eligible for the award last year.

The awards provide further evidence of the high quality of payment orders from BCS Bank, allowing J. P. Morgan to forward the payments without any further manual operations, which makes processing cheaper and simpler.

BCS Bank scooped awards in three categories:

  • 2020 QUALITY RECOGNITION AWARD USD CLEARING MT103 with 98.63% — customer payments in USD.
  • 2020 QUALITY RECOGNITION AWARD EURO CLEARING MT103 with 94.60% — customer payments in euro.
  • 2020 ELITE QUALITY RECOGNITION AWARD EURO CLEARING MT202 with 99.80% — interbank payments in euro.

The figure following the award title refers to the share of automatically processed wires.

Set up in 1997, J. P. Morgan Quality Recognition Awards has been widely considered as the hallmark of excellence of operational teams.