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The Bank of Cyprus has announced that it has received the Quality Recognition Award from global financial services firm JP Morgan Chase.

The award, which the Bank of Cyprus has won for the fourth year running, is given in recognition of excellent funds transfer processes under SWIFT. In its statement, the bank noted that “JP Morgan is one of the correspondent banks with whom the Bank of Cyprus works for transactions in US dollars”.

The award was presented to Bank of Cyprus, given that “nearly 100 per cent of the payments effected in 2024 were processed directly (Straight-Through Processing) without the need for any manual intervention on JP Morgan’s part”. “The Quality Recognition Award underlines the excellent quality of services and processes deployed by Bank of Cyprus,” the bank said. “The award recognizes the correspondent banks that have attained operational excellence in funds transfers,” it added.

Commenting on the award, Despina Kyriakidou, Director Treasury at Bank of Cyprus, said that “providing quality services to customers and partners alike, is the cornerstone of all our efforts”. “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 globally,” she added. “We will continue to provide excellent services, while applying the highest international compliance standards,” Kyriakidou concluded.

Source: Cyprus Mail