Bank of New York has awarded Bank of Cyprus with the “STP AWARD 2023”, for a third consecutive year, in recognition of the high-quality procedures the Bank follows in the area of fund transfers via the SWIFT system.

Bank of New York is one of the correspondent banks with whom Bank of Cyprus works for US dollar transactions.  The award was awarded to the Bank in recognition of the fact that nearly 100% of payments were Straight Through Processing, without the need for any non-automated intervention on the part of Bank of New York.

Bank of Cyprus Treasury Director Despina Kyriakidou states that “Bank of New York is one of the largest US financial institutions operating globally. This award confirms the vote of confidence of a global organization in our Bank. The cooperation with Bank of New York contributes to the further strengthening of the banking and financial services offered by the Bank to business, institutional and private customers both in Cyprus and abroad”.