Security Bank Corporation was recognized by Standard Chartered Bank (SCB) with a Straight Through Processing (STP) Excellence Award for its seamless payment transactions made from 2019 to 2021.
SCB applauded Security Bank for achieving a STP rate of 98.9% for commercial payment processing in 2021, a 3% increase from its 2019 rating of 95.5%. STP enables recipient banks to digitally receive and process payment transactions from the host bank, reducing inefficiencies and preventing delay in payment posting.
According to SCB, Straight Through Processing rate is considered as the most important indicator to determine the quality of payment transactions, only those who can achieve a rating of above 95% are considered as having excellent STP rates.
“We at Security Bank are honored to receive this award from Standard Chartered Bank. The STP Excellence Award is proof of our commitment to clients to process their payment needs in a fast, safe, and reliable manner. We will continue to enhance and explore new ways of helping clients experience a seamless BetterBanking experience to achieve our goal of becoming the most customer-centric bank in the country,” said Jopet Jocson, First Vice President, Corporate and Consumer Services Division.