Routing

Routing of withdrawal payments is the process of determining the most optimal path for processing and transferring funds from the sender to the recipient. This process is important for the efficiency, speed, and cost savings of transactions, especially in multi-currency and international payment operations.

How routing works:

1. Identification of the Recipient: First, the final recipient of the funds is identified, and necessary information about their bank details is collected.
2. Choice of Payment System: Then, a payment system or banking channel is selected that will be used for the transfer of funds. The choice can depend on factors such as the currency of the transaction, the amount, the country of the recipient, and preferred transfer times.
3. Compliance and Verification: The transaction is checked for compliance with norms, anti-fraud checks, and anti-money laundering (AML) regulations.
4. Routing: At this stage, it is determined through which banks and payment systems the transaction will pass — this could be a direct payment to the recipient’s bank, the use of correspondent banks, or payment aggregators.
5. Execution of the Transaction: After this, the actual payment is made. Funds are debited from the sender’s account and directed through the chosen payment channels to the recipient.
6. Confirmation and Reporting: After the funds reach the recipient’s account, the sender receives confirmation of the successful completion of the transaction.

Routing performed automatically using software that optimizes the process by choosing the fastest and most cost-effective routes for each individual transaction, considering the current conditions and rules of interbank transfers.