By NEIL HARTNELL
Tribune Business Editor
nhartnell@tribunemedia.net
Bank of The Bahamas (BOB) says it has received the Elite Recognition Award from J.P. Morgan Chase in recognition of its 99.57 percent accuracy in payments processing.
The BISX-listed institution, in a statement, said the award was made for its straight-through processing of MT103 US dollar payments in 2022, specifically in the area of international funds transfers.
Once US dollar payment messages are created and released to SWIFT, Bank of The Bahamas' business support unit ensures they proceed directly to the beneficiary institution, including any intermediary banks, without requiring intervention from J.P. Morgan's queue for repairs and forwarding.
Diana Carina Reyes, executive director of JP Morgan Payments, in a recent meeting at Bank of The Bahamas' office presented the Elite Recognition Award to Elnora Major, the Bahamian institution's senior manager of back office support.
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