EastWest Bank, one of the country's most consumer-focused banks, was recently recognized for its excellence in Straight-Through Processing (STP) by leading global financial institutions JP Morgan and Wells Fargo.
EastWest Bank was conferred the JP Morgan Elite Quality Recognition Award for "Outstanding achievement of Best-in-Class MT103 STP Rate 99.48%". It also received the Wells Fargo Operational Excellence Award in recognition of its "superior straight-through processing and book transfer rates with low inquiry ratio". EastWest also received an STP Award from Wells Fargo in 2015.
STP refers to the end-to-end, fully automated processing of payment orders without any manual intervention. STP reduces risk of delays or failures in payment through automated and standardized financial transactions.
The awards from JP Morgan and Wells Fargo are testaments to EastWest Bank's high level of efficiency and accuracy in delivering commercial payments and remittances, as well as its commitment to excellence to its customers.
JP Morgan 2017 Elite Quality Recognition Award
Top row from left: JP Morgan's Liz Enrile Santos, Head of Financial Institutions and Charissa Mendoza of Treasury Services; EastWest's Bobby Reyes, President and Deputy CEO; JP Morgan's Jason Clinton, ASEAN Regional Head Banks and Broker Dealer Sales; EastWest's Homer Petallano, Head of Trade Services; Rosalyn Almendral, Head of Fund Transfer; EW Fund Transfer Associates Rhasciel Bustos, Rona Joy Morante, and Justine Joy Urcia; JP Morgan's Loh Ming Li of Global Clearing; and EastWest's Charllene Lao, Fund Transfer Associate, and Cherry Barasi-Kimpo, Head of Liquidity Management.
Bottom row from left: EastWest's Vincent Dacallos, Trade Services Officer; Tristan Aureus, Fund Transfer Officer; Prince Dela Cruz, Fund Transfer Associate; Dilbert Tan, Head of Corporate and International Services; and Fund Transfer Associates Micah Fuentes and Reynald Santiago.
Wells Fargo Operational Excellence Award
From left: EastWest's Bobby Reyes, President and Deputy CEO; Ruby Afable, Head of TROPS; Dilbert Tan, Head of Corporate and International Services; Rosalyn Almendral, Head of Fund Transfer;Wells Fargo's Imelda Capistrano, Country Manager; and EastWest's Raffy Algarra Jr., SEVP & Head of Distribution Group, Wealth Management, Trust, and CBG I & II.