Russian Agricultural Bank (RusAg, the Bank) received the J.P. Morgan Bank award for high quality of currency transfers in 2020. The Quality Recognition Award is bestowed to the Bank for the second year in a row for the high level of standards for processing interbank transfers in US dollars in accordance with international rules for end-to-end automated payment processing (STP).
On 29 December 2020, in Moscow, J.P. Morgan Bank presented RusAg with the annual award for high quality and speed of payments in 2020. The Quality Recognition Award recognizes correspondent banks that have the level of automated payment processing above 97-98%. According to the results of 2020, the Bank’s level was at 98.88%.
“We would like to thank J.P. Morgan Chase Bank, RusAg’s main US dollar transfer partner, for the appreciation of our work. The award received by the Bank once again confirms the high quality of its processing of foreign exchange payments, the speed of which is an important component for the successful foreign economic activity of the Bank’s clients. We intend to continue to maintain a high level of service for our customers,” said Kirill Levin, First Deputy Chairman of the Management Board at RusAg.
J.P. Morgan Chase Bank, N.A. has been awarding its clients in several nominations since 1997. Less than 1% of banks making payments via J.P. Morgan Chase Bank, N.A. is honored with payment quality recognition from one of the world’s leading financial institutions.