EXIMBANK HONORABLE TO RECEIVE THE AWARD FOR EXCELLENT INTERNATIONAL PAYMENT QUALITY FROM WELLS FARGO
On August 29, 2019, Vietnam Import-Export Commercial Joint Stock Bank (Eximbank) was awarded the "Bank for International Settlements" award by the representative of Wells Fargo Bank - the 4th largest bank in the US. "Excellent". This is an award recognizing Eximbank's excellent quality in automatically processing international payment messages (money transfers to customers).
The award is awarded based on Wells Fargo's globally consistent application standards based on the quantity of payment electricity and the quality of payment electricity that is processed automatically throughout. The program is held annually to honor quality banks that perform International Payment transactions based on the rate of successful operations with an accuracy level of 90% or higher. This award is the recognition of a long-standing and reputable foreign financial institution for the quality of Eximbank's automatic payment messages, and at the same time affirms the quality of technology and quality of automatic payment implementation as well as the quality of Eximbank's automatic payments. such as the professional excellence of Eximbank's staff during the past time.
Mr. Nguyen Huong Minh (left) - Deputy General Director of Eximbank represented and received this award from Mr. Nguyen The Phong - Country Director of Vietnam and Cambodia of Wells Fargo Bank.
Eximbank has achieved 9 consecutive years of receiving this award not only from Wells Fargo but also from many other international banks thanks to its high rate of consistent payments. The criteria for approving the award are very strict, Wells Fargo had to establish An independent department to analyze data to produce the most accurate and fair results. With a high standard electricity rate of over 90%, specifically, the standard electricity rate at Wells Fargo is always over 95%, Eximbank is one of the banks in Asia as well as globally that achieves an excellent rate. This. From 2015 - 2018, Eximbank's STP ratio at BNY Mellon reached over 97% and JPMorgan Chase was 99%.
"This is Wells Fargo's recognition of the quality of technology, as well as the professionalism and dedication of our staff in the process of serving customers. Towards an international standard bank, we I am committed to continuing to improve service quality and improve international payment processing processes to bring more direct benefits to customers and partners," Mr. Nguyen Huong Minh shared.
With a wide network of correspondent banks around the world and presence in vibrant international financial markets, Eximbank is always proud to be able to provide the best and fastest support for all domestic and foreign payment transactions. customers at the lowest cost. Eximbank constantly improves its operations and technology quality to create more benefits for businesses and customers, realizing expectations for the future.