MKB Awarded by J.P. Morgan and Citi for Payment Processing Quality


Credit Bank of Moscow (MKB) received two J.P. Morgan Quality Recognition Awards for 2021.

J.P. Morgan hands them out to its customers who originate payments in full compliance with SWIFT standards and its own high requirements.

“We have given this award since 1997. In 2021, less than 1% of our total funds transfer clients qualified for it. MKB has met and exceeded our stringent STP performance standards,” J.P. Morgan states in a letter.

MKB has won two nominations at once:

- 2021 ELITE QUALITY RECOGNITION AWARD EURO CLEARING MT103 with 99.95% STP; - 2021 STANDARD QUALITY RECOGNITION AWARD EURO CLEARING MT202 with 99.69% STP. The percentage represents the share of MKB's payments processed straight through by J.P. Morgan. MKB also got the USD Dollar Payments STP Excellence Award from Citi for the 100% quality of US dollar payments in 2020. The global banks' awards testify that MKB employs prime personnel, framework and technology to handle payments.