A Global Force in
Trade Finance

News Details

FIMBank receives Excellence Award from Deutsche Bank


FIMBank has been awarded the STP Excellence Award by Deutsche Bank for the fourth 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.

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.

Maria Said, the head of FIMBank’s Payment Orders Department, stated 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 recognized internationally and we are very proud of this outstanding achievement.”