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:
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.