OREANDA-NEWS. Major international financial institutions Deutsche Bank and Standard Chartered Bank have awarded MDM Bank for the high quality of its international payment processing during 2012. This is not the first recognition of MDM Bank’s team by tier 1 international institutions. MDM Bank has been receiving awards for the high quality of its international transaction processing from partner banks across the world for over five years.

Payments managed for overseas correspondent banks are streamed to an automatic processing — STP (straight through payments) system —— avoiding the need for operator involvement in the banks. In 2012, MDM Bank reached an STP ratio of 98.8% with Deutsche Bank and over 99% with Standard Chartered Bank, achieving the best in market results for 2012.

“This recognition by the world’s largest players in the banking industry is proof positive of our level of performance and the high professionalism of the MDM Bank team,” Tatiana Berezhnova, the Head of Payments Division of MDM Bank, commented. “Payments are subject to strict regulations and we are glad that, amongst the international banking community, MDM Bank has set the standard for this type of transaction processing in the Russian market. We take pride in delivering best-in-class, high quality services to our banking partners always with the objective of remaining the most reliable and professional bank in Russia”.