JPMorgan Treasury Services (TS) and Deutsche Postbank AG have achieved an unprecedented 99% STP rate in the processing of pension payments.
By partnering JPMorgan TS, Deutsche Postbank was able to leverage the bank's hub infrastructure and global connections.
Susan von Gunten, international relations and payment solutions, Deutsche Postbank says: "We were very impressed with the flexibility of JPMorgan TS' solution and the ability of its technology and key people to achieve such remarkably high rates of STP in light of such challenges."
JPMorgan TS currently processes 30,000 pension payments through its UK and German payment centres every day.