Bank of Cyprus awarded “Quality Recognition Award” from JP Morgan
13:12 - 13 October 2023
JP Morgan Chase Bank has awarded Bank of Cyprus with 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 Bank of Cyprus works for dollar transactions. The award was bestowed on the Bank in recognition of the fact that nearly 100% of approved payments were Straight Through Processing, without the need for any non-automated intervention on the part of JP Morgan.
Bank of Cyprus Treasury Director Despina Kyriakidou commented: “The Quality Recognition Award confirms the operational excellence, the high quality of services and processes, deployed by the relevant departments of the Bank. 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. Our promise is to fervently continue to provide top-notch services while implementing the highest international compliance standards”.