OREANDA-NEWS. December 21, 2011. Novikombank’s Settlement Centre was created in order to improve the quality and efficiency of provided services to correspondent banks.

The main goals of the Settlement Centre are:

to reduce costs on currency payments through introduction of payments’ routing schemes and quality improvement of payment documents preparation;

to arrange Loro settlements to service correspondent banks via various communication channels at a competitive level;

to centralize bank’s settlement (including branches) in case of its own and clients payments in roubles and foreign currencies;

to standardize the payment technologies used by the Bank.

Creation of the Settlement centre allowed to use the Bank’s IT systems (software and hardware tools, communication channels) with maximum efficiency. This, in particular, allowed to reduce pricing for foreign currency payments in euros for correspondent banks. Now the maximum fee for EUR payments totals EUR 25 depending on payment amount and geography.

Galina Novikova was appointed as the Head of the Settlement Centre. She is an experienced professional with extensive managerial experience in arranging such settlement centres.