For two consecutive years, ABBank has maintained an international wire transfer accuracy rate exceeding 99.9% through Wells Fargo's system, surpassing the 95% benchmark required for the award. This achievement demonstrates ABBank's precise and efficient operations, along with its strict adherence to international practices in international payments.
Lai Tat Ha, deputy general director of ABBank, said the award not only recognizes the bank's positive results but also motivates it to continue its strategy of modernizing its payment systems, investing in technology, and standardizing processes according to international standards.
"This is a testament to our spirit of continuous improvement and our desire to bring practical, safe, and efficient value to corporate customers in the context of deep integration," he added.
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ABBank representatives receive the "straight through processing (STP) excellence award" from Wells Fargo. Photo: ABBank |
ABBank representatives receive the "straight through processing (STP) excellence award" from Wells Fargo. Photo: ABBank
Wells Fargo, one of the top 3 banks in the US by asset value, operates in over 40 countries and serves millions of corporate clients globally. The "straight through processing (STP) excellence award" is a prestigious recognition in the international finance industry, honoring organizations with outstanding wire transfer capabilities, adherence to SWIFT standards, and a high degree of accuracy in straight through processing (STP).
In November 2024, ABBank also received the "2024 quality straight through processing (STP) award" from JP Morgan Chase Bank for its high rate of accurate wire transfers. These awards from reputable global financial institutions demonstrate ABBank's growing expertise and position in international payments.
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An ABBank transaction office. Photo: ABBank |
An ABBank transaction office. Photo: ABBank
With over 32 years of experience in international payments, foreign exchange, and trade finance, ABBank currently partners with more than 350 correspondent banks in 75 countries and territories. The bank offers a diverse product portfolio, including: working capital financing; UPAS L/C; discount of documents; issuance and confirmation of L/C; guarantees; and reissuance of L/C.
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An ABBank branch. Photo: ABBank |
An ABBank branch. Photo: ABBank
ABBank plans to continue expanding its global network, enhancing technology application in operations, and developing comprehensive financial solutions to support Vietnamese businesses in integration and sustainable development.
(Source: ABBank)
