Sacombank wins consecutive international awards for outstanding payment operations

Sacombank recently received 2 prestigious awards for its payment operations from 2 reputable international banks. These awards recognize the excellent quality in Sacombank's automated processing of international payments (transferring money for customers) in 2023.


In particular, Wells Fargo – one of the world’s largest banks in terms of international payment transactions, has honored Sacombank as the “Excellent Payment Bank” for the 3rd consecutive time (2021-2023) due to its compliance with Wells Fargo’s globally applicable standards for the quantity and quality of automated electronic payments.

Additionally, Sacombank’s automated processing rate of 98.8% has also helped the bank achieve the “STP 2023 Standard Bank” accolade from Standard Chartered – a multinational bank based in the UK with a network of over 1,200 branches and agencies in more than 70 countries. The award is based on criteria such as Straight Through Processing (STP) and comprehensive quality standards, including transaction processing speed, adherence to procedures, transaction processing safety, and transparency. This is the 4th consecutive time since 2020 that Sacombank has been honored in this category by Standard Chartered.

Thanks to investment and innovation in technological infrastructure, Sacombank consistently achieves a high STP rate and has received prestigious awards not only from Wells Fargo and Standard Chartered Bank but also from many other reputable international banks such as Citibank, Commerzbank, HSBC, J.P.Morgan Chase Bank, Bank of New York, among others, over the past 16 years.

In 2023, Sacombank successfully launched the SWIFT GO service for individual and corporate customers, allowing for a maximum transaction amount of 10,000 USD. This enables overseas beneficiaries to receive money from linked banks quickly and cost-effectively.

By receiving these two payment awards from reputable foreign financial institutions, Sacombank once again affirms the quality of its payment services in the international market, as well as the excellence of its technology and the expertise of its staff throughout the years.

Previous articleCredit Card Fraud: Lessons Learned from an $8.5 Million Debt Collection Case
Next articleBank Employee Incentives in 2023: What to Expect?