Nedbank Namibia has been honoured with the 2025 Straight Through Processing (STP) Award by Commerzbank AG, recognising the bank’s ability to deliver reliable cross-border payment services.
The 2025 achievement adds to the Commerzbank STP Awards won in 2012, 2014, 2021, 2022, and 2024.
According to Nedbank, the 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.
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.
The bank highlighted STP as a critical benchmark in international banking efficiency. However, despite advances in global payment systems, the average global STP rate for cross-border payments remains as low as 26%.
This means that 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 to nearly US$290 trillion by 2030, emphasising the need for high-quality, automated payment processing. Institutions that can consistently achieve high straight-through processing rates are better positioned to support global trade, investment, and economic growth.
Meanwhile, cross-border payments in Africa are widely recognised as more complex than in many other regions. Nedbank attributed this to 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.
Against this backdrop, the bank underscored the recognition by Commerzbank as a reflection of exceptional operational discipline and technical expertise. In addition, it also confirms that its 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.
Commenting on the award, Nedbank Namibia’s Communications and Public Relations Manager, Selma Kaulinge, said the award points to the bank’s ‘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 said.
The award further strengthens the bank’s standing with international correspondent banks and global partners, reinforcing trust in its systems, people, and processes.
(from left, Nedbank team): Aisha Gaes, Admin Clerk; Zavier Draghoender, Senior Administrator: Payments; Atlholang Sechele, Exchange Control and Digital Administration Officer; Dietlind Pascheka, Manager: Global Business; Tangeni Hamukoshi, Admin Clerk; Natalia Shatika, Clerk.
