[attach id=263344 size="medium"]BoV chief executive officer Charles Borg, executive head operations Lawrence Micallef and chief officer operations Michael Galea presented the award to the payment operations unit.[/attach]

For the second time in less than one year, Bank of Valletta has received an international award for excellence in payments processing.

Bank of Valletta has just received the Straight-Through Processing (STP) Excellence Award from Deutsche Bank.

This award recognises BoV for achieving an excellent level of operational efficiency in the processing of payments. The bank received a similar award from J. P. Morgan in September 2012.

The STP Excellence Award recognises the excellent standard that Bank of Valletta has achieved in this business function, with an average rate of 97.22 per cent of payments processed through the bank being effected in a ‘straight-through’ manner. The global industry average currently stands at 90 per cent.

Charles Borg, BoV’s chief executive officer, and Michael Galea, chief officer, Operations, paid a visit to the bank’s payments operations section to congratulate the staff and present them with the award.

“Such awards recognise that Bank of Valletta is excelling at what it does best – providing a quality service to our customers,” said Mr Borg. “The diligence and constant attention to detail of the BoV team ensures that our customers benefit from faster response time in the delivery of the bank’s services.”