Fortis Bank has continually invested in its payment processing capabilities for the past years and is prepared for the challenges in the European and global markets.
This has been endorsed by Deutsche Bank awarding Fortis Bank for the excellence of the quality of their USD payments across the Benelux region. The recent award handed to Fortis Bank considers not only treasury USD payments but particularly takes into account the more complex commercial payments with their comprehensive STP rules.
"The excellent STP results have been achieved in partnership throughout, supported by regular quality reports and bilateral meetings with Deutsche Bank says Mark Parys, General Manager Fortis Payment Services"
STP excellence avoids unnecessary occupation of qualified resources and is a foundation for coping with imminent regulatory changes, such as new rules for Cover Payments. The scarce resources can be concentrated on dealing with the challenge of extremely short lead-times to comply with the new regulations.
In strengthening the partnership, Fortis directs parts of its commercial USD payments to Deutsche Bank, and a joint interpretation of the upcoming standard changes of MT202 Cover payments will help keeping up the excellent STP rates achieved until now. Mark Parys: "As the co-operation has worked out so well on the STP project generally, both Fortis and Deutsche Banks see great opportunities in continuing the dialogue in order to reduce investment cost and further increase efficiency".
These initiatives are part of Fortis' being optimally positioned as a best in class provider for payment services towards its clients.
