Moscow, Russia — 2 July 2021.
Tinkoff has received Quality Recognition Awards by J. P. Morgan in three categories, in recognition of the Company’s operational excellence in 2020 when processing customer payments in foreign currencies.

J. P. Morgan Chase Bank commended Tinkoff’s 2020 performance in three categories:

• 2020 Elite Quality Recognition Award for U. S. Dollar Clearing MT103 — for 99.45% of Tinkoff’s interbank USD payments being correct and processed in STP mode
• 2020 Quality Recognition Award Euro Clearing MT103 — for 98.40% of customer EUR payments from Tinkoff being processed in STP mode
• 2020 Quality Recognition Award Euro Clearing MT202 — for 99.59% of customer EUR payments being processed in STP mode.

STP means Straight-through processing — the percentages show the share of payments processed automatically by J. P. Morgan.

Sergey Khromov, Head of Payments and Transfers at Tinkoff:

«When our customers transfer their money in foreign currencies, they do not notice any difference between domestic transfers and international ones. Both Tinkoff and its customers value speed and quality above all. Each year we improve our services and introduce new tools for foreign-currency transfers. These three awards confirm the high quality and accuracy of our payment processing which enables J. P. Morgan to send such payments on without any manual processing, thereby reducing the cost and complexity of transfers.»

The Quality Recognition Awards are awarded annually to financial institutions that process their payments automatically and in compliance with international STP standards. Every year, fewer than 1% of the banks that transfer money through J. P. Morgan Chase Bank are recognized for their high-quality payment processing.