Deutsche Bank Rewards FUIB for High Payments Quality
First Ukrainian International Bank (FUIB) received Deutsche Bank reward for exceptional quality of its payments in US dollars over 2011. Every year Deutsche Bank analyzes its cooperation with correspondent banks over the year ended and assesses payment processing quality by them in terms of high straight through processing (STP) rate.
High STP rate of a correspondent bank ensures low rate of errors and has a positive effect on operating expenses that impact respectively the cost of payments for customers. FUIB’s STP rate of 99.84%, which means that all international payments by customers were automatically processed and payment processing time was up to 5 seconds.
Over 10 years running FUIB receives Deutsche Bank award. As been reported, this year FUIB also was rewarded by VTB Bank (Deutschland) AG for by high straight through processing (STP) rate of payments in euro.