SKB-Bank was awarded a special prize by one of its correspondent banks VTB Bank (Deutschland) AG in the Best Money Order Processing category.

SKB-Bank has been handling money orders using an international SWIFT system since 1993. Certain fill-in formats are used for processing the payments, so if the formats are complied with, the orders are processed by a correspondent bank automatically, without an operator’s help. Automation of payment processing naturally makes the entire procedure much speedier, so as a result, the money orders get to their addressees much faster.

At the moment, 98.15% of SKB-Bank’s customers’ payments made in euros are processed automatically by VTB Bank (Deutschland) AG. This correspondent bank felt very impressed with the quality of the Urals-based bank’s international money order processing and gave the bank a special prize for this.