Africa-Press – Namibia. NEDBANK Namibia has received the 2025 straight through processing (STP) award from Commerzbank for its efficient cross-border payment services, marking its sixth win of the accolade.
According to a statement issued by Nedbank, the Commerzbank STP award is granted annually to a limited number of correspondent banking partners worldwide that demonstrate outstanding quality in processing commercial payments and financial institution transfers.
This is the sixth time Nedbank has won the award, having scooped the accolade in 2012, 2014, 2021, 2022, 2024, and 2025.
Commenting on the award, Nedbank spokesperson Selma Kaulinge says:
“This award from Commerzbank speaks to our ethos of being money experts who do good. It demonstrates that global best practice, precision and reliability can be delivered from Namibia into the world.
“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,” she says.
Kaulinge says the assessment used to determine award recipients is based on stringent global standards, including the accuracy, completeness and formatting of payment data, which enables transactions to be processed automatically without manual intervention.
STP is a critical benchmark in international banking efficiency. Yet, despite advances in global payment systems, the average global STP rate for cross-border payments remains at a low 26%.
This means nearly three-quarters of international payments still require manual repair or intervention. As cross-border transaction values are expected to increase from US$190 trillion (about N$3.1 quadrillion) to nearly US$290 trillion (about N$4.7 quadrillion) by 2030, the need for high-quality, automated payment processing has never been greater.
Nedbank says institutions that can consistently achieve high STP rates are better positioned to support global trade, investment, and economic growth.
“Cross-border payments in Africa are widely recognised as more complex than in many other regions because of fragmented infrastructure, multiple currencies, regulatory variation, and reliance on correspondent banking networks.
“As a result, research shows that STP rates in parts of Africa and other emerging markets can fall to 80–85% or lower, increasing costs and delays for businesses involved in international trade,” Nedbank says.
The bank notes that against this backdrop, its recognition by Commerzbank reflects an exceptional level of operational discipline and technical expertise, adding that the award confirms that Nedbank’s international payments consistently pass through global banking channels with clean data and minimal manual intervention, supporting faster settlement, fewer delays, and a dependable experience for clients.
Commerz bank is a leading German bank headquartered in Frankfurt am Main, specialising in services for private, corporate, and small and medium enterprises and operates in more than 40 countries worldwide. – email: [email protected]
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