Fimbank plc, the Malta-based trade finance specialist, 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 achieved by Fimbank in processing both US dollar and euro 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.

“The Deutsche Bank Excellence Award is a significant indicator of the quality of the bank’s personnel, automation systems and advanced standards,” Maria Said, head of Fimbank’s Payment Orders Department, said.