First Ukrainian International Bank (FUIB) received an award from Commerzbank AG for the high quality of commercial payments processing (STP-rate).
Annually, Commerzbank AG evaluates the work with counterparty banks by measuring the quality of payments performed by them and the degree of automatic processing of operations in a correspondent bank (STP - Straight Through Processing). The award confirms the high standards of FUIB's work, namely the quality of filling payment instructions in accordance with international standards, which allows quick processing of FUIB's payments without manual intervention on the correspondent bank's side.
Commerzbank noted that the high requirements for formatting SWIFT messages which are adhered to at FUIB allow the correspondent bank to automatically process payments in favor of the beneficiaries, thereby shortening the time for delivery of the payment to the beneficiary. This means for bank customers that funds sent to the beneficiary's account will be transferred on time.
We would like to remind, that Commerzbank has already noted the high quality of the bank's work before.
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