Sacombank wins J.P. Morgan award for excellence in USD payment processing

Sacombank wins J.P. Morgan award for excellence in USD payment processing

Sacombank has been honoured by J.P. Morgan Chase, one of the world’s leading financial institutions, with ‘The 2025 U.S. Dollar Clearing Elite Quality Recognition Award’.

Trần Thị Ngọc Hương (right), deputy director of the Operations Division at Sacombank, on behalf of the bank, receives ‘The 2025 U.S. Dollar Clearing Elite Quality Recognition Award’ from a representative of J.P. Morgan. — Photo courtesy of the bank

The award recognises Sacombank’s exceptional USD payment processing quality, achieving an STP (Straight Through Processing) rate of 99.68 per cent and placing the bank among those with the highest processing standards in the region and worldwide.

This is the third year Sacombank has been recognised by J.P. Morgan Chase in this category, reaffirming its operational excellence and strict adherence to international payment standards.

Together with high evaluations from Wells Fargo, Citibank, Standard Chartered Bank and The Bank of New York Mellon, this achievement further strengthens Sacombank’s position in the global payment system.

With import-export activities recovering robustly, the need for faster, safer and more transparent international transactions is increasing.

This year, the bank proactively upgraded its cross-border payment infrastructure. Key enhancements include accelerating the processing speed of wire transfers, optimising connectivity with foreign banks and minimising errors at the pre-processing stage.

Sacombank was also among the first banks in Việt Nam to simultaneously implement two SWIFT international payment solutions –GPI (Global Payments Innovation) and Pre-validation, allowing businesses to track payments in real time and verify recipient information before completing transactions.

Notably, the bank has completed the adoption of the SWIFT ISO 20022 messaging standard (MX messages) ahead of schedule, enabling more detailed and standardised data transmission. This creates a foundation for deeper automation and reduces the likelihood of rejections from foreign banks due to formatting issues or missing information.

With its modern technology platform, internationally aligned processes and globally recognised payment processing capabilities, Sacombank is elevating the customer experience and solidifying its position as a trusted partner for businesses engaged in global trade. 

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