For the second consecutive year Bank of The Bahamas Limited has received the Elite Quality Recognition Award from J. P. Morgan Chase Bank for excellence in Straight Through Processing (STP) of MT103 USD payments. The award recognized the Bank’s achieving 99.48% accuracy in its processing of international funds transfers in 2023 maintaining an almost 100% accuracy rate when compared to other financial institutions accounts across the Latin American, Bahamas and Caribbean region.

This means that, once the BOB Business Support Unit creates messages for USD payments and releases them to SWIFT, they go directly to the beneficiary bank (including the intermediary bank) without stopping in J.P. Morgan’s queue to be repaired and forwarded.

Jessica L. Chen W, Vice President of Corporate & Investment Bank, LATAM Payment Sales, J.P. Morgan Chase Bank presented the award to Elnora Major, Senior Manager of BOB’s Business Support Unit.

Ms. Chen said the Elite Recognition Award is a recognition for the quality of payments that are being processed correctly. “We’re very proud to be here again delivering this award to Bank of The Bahamas. You have a rate of 99.48%. That’s almost 100%. That’s a very good rate; almost perfect. This means that you have done an excellent job. You are exceptional in your operational excellence and this translates into this high rate. Having clients like you … is very important to us so congratulations for the recognition,” she said.

Noting that excellence is one of the Bank’s core values, Neil Strachan, Managing Director, Bank of The Bahamas thanked J. P. Morgan for the recognition and congratulated the Business Support Unit.

“We’re very proud of the Business Support Team’s outstanding and consistent performance and we are grateful to be recognized with this prestigious award.” Mr. Strachan said.