June 7, 2012 12:52 pm
FIMBank plc, the Malta-based trade finance specialist, has been awarded the STP Excellence Award by Deutsche Bank for the fifth year in succession.
This award recognises the high level of Straight Through Processing (STP) achieved by FimBank in processing both USD and EUR electronic fund transfers.
“We are very proud to have received this award for five years in a row,” stated Charles Wallbank, FimBank’s head of banking operations, adding that “the Deutsche Bank Excellence Award is a significant indicator of the quality of the bank’s personnel, automation systems and advanced standards. FimBank’s excellence in effecting EUR and USD payments has once again been recognised internationally and we are very proud of this outstanding achievement.”
STP enables the entire payment transaction to be processed electronically without the need for re-keying or manual intervention.
FimBank offers a bulk payment service to small and medium-sized companies, allowing them to make regular payments, such as wages and supplier payments, securely and economically.
Employees in the Bank’s Payment Orders Department are trained to ensure that customer payments are processed and settled cost effectively and in the shortest possible time. FimBank also provides a payments service to a number of foreign correspondent banks who choose to channel their payment traffic through FimBank to ensure quality processing.
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