BoC earns JP Morgan’s ‘Quality Recognition Award’ for third year

JP Morgan Chase Bank has bestowed on Bank of Cyprus (BoC) the “Quality Recognition Award”, for a third consecutive year, in recognition of the high-quality procedures the Bank follows in the area of fund transfers via the SWIFT system.

JP Morgan is one of the correspondent banks with whom BoC works for dollar transactions. The award was bestowed on the Bank in recognition of the fact that nearly 100 per cent of approved payments were Straight Through Processing, without the need for any non-automated intervention on the part of JP Morgan.

“The Quality Recognition Award confirms the operational excellence, the high quality of services and processes, deployed by the relevant departments of the Bank,” said Bank of Cyprus Treasury Director Despina Kyriakidou.

“Particularly when it comes to working with correspondent banks, we demonstrate on a daily basis that we are a reliable partner to the largest banking groups around the world,” she continued. “Our promise is to fervently continue to provide top-notch services while implementing the highest international compliance standards.”