Staff Writer
Nedbank Namibia has received the 2025 Straight Through Processing (STP) award from Commerzbank AG.
The award recognises the bank’s performance in handling cross-border payments.
The Commerzbank STP award is granted each year to a small number of correspondent banking partners that meet global standards in processing payments and financial transfers.
The assessment focuses on the accuracy, completeness and formatting of payment data. These factors allow transactions to be processed automatically without manual intervention.
Straight-through processing is a key measure of efficiency in international banking.
Despite improvements in payment systems, global STP rates for cross-border payments remain low, at about 26%. This means most international payments still require manual handling.
Cross-border payment volumes are expected to grow from about US$190 trillion to nearly US$290 trillion by 2030.
This increases the need for systems that process payments quickly and accurately.
In Africa, cross-border payments remain complex. Factors include different currencies, varying regulations and reliance on correspondent banking systems.
These challenges can lower STP rates to between 80% and 85% or below in some markets, leading to higher costs and delays.
The award highlights Nedbank Namibia’s ability to process payments efficiently and support clients involved in international trade and investment.
“By reducing friction in cross-border payments, we help our clients trade, invest and grow with confidence, contributing positively to economic activity while upholding the highest standards of integrity and excellence.”
