Nedbank Namibia has been awarded the 2025 Straight Through Processing (STP) Award by Commerzbank AG, recognising the quality and efficiency of its cross-border payment processing, the bank said.
The award is granted annually to a select group of correspondent banking partners that meet strict global standards for payment accuracy, completeness and formatting, enabling transactions to be processed automatically without manual intervention.
Straight-through processing is a key benchmark in international banking, yet global performance remains uneven. According to industry data, the average STP rate for cross-border payments is around 26%, meaning most transactions still require manual repair or intervention.
With cross-border payment volumes projected to rise from US$190 trillion to nearly US$290 trillion by 2030, institutions with high STP rates are seen as better placed to support global trade and investment.
In Africa, cross-border payments are often more complex due to fragmented infrastructure, multiple currencies and regulatory variation, which can result in lower STP rates and higher transaction costs.
Against this backdrop, Nedbank Namibia said the award reflects its ability to process international payments with clean data and minimal manual intervention, supporting faster settlement and fewer delays.
The bank has now received the Commerzbank STP Award six times, having previously been recognised in 2012, 2014, 2021, 2022 and 2024.
Communications and PR Manager Selma Kaulinge said the recognition highlights the bank’s commitment to global standards.
“This award from Commerzbank speaks to our ability to deliver precision and reliability in cross-border payments from Namibia. By reducing friction in international transactions, we enable our clients to trade and invest with confidence,” she said.
Nedbank Namibia said the award strengthens its standing with international correspondent banks and reinforces trust in its systems, people and processes as Namibia integrates further into regional and global markets.
