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Oct 5, 2017 @ 18:46

EastWest wins big for its digital remittance platforms

 

This bank’s high-tech system is gaining global attention.

East West Banking Corporation bagged two international awards in recognition of its efficient digital systems for its automated transactions.

EastWest received the JP Morgan Elite Quality Recognition Award as well as the Wells Fargo Operational Excellence Award for achieving a Straight-Through Processing (STP) rate of above 99% in 2016.

The STP involves the fully-automated end-to-end processing of payment instructions between customers, ensuring that the orders are fast, accurate, reliable, and nearly error-free.

EastWest received the Wells Fargo commendation for the second straight year.

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