Citi Handlowy is the first bank in Poland to allow identification of mass FX payments as part of its new SpeedCollect service, which it introduced this month. This tool allows creditors to download and review electronic reports, thanks to which they have fast and easy access to financial data, enabling them to quickly and accurately determine the total value of all receivables, both in local and foreign currencies.

SpeedCollect allows identification of mass payments made to the creditor's account through an electronic report containing information on all payments made by debtors on a given working day. Apart from the time and date of the transfer, the creditor, using its "InfoCode," can also receive information on the payer and the invoice number.

SpeedCollect is a tool allowing automatic update and reconciliation of data in the financial and accounting system, thus contributing to more effective cash flow management in the company. Thanks to the flexibility of the offer, electronic reports can be sent in a format that is compatible with the format of a given accounting system. The innovative character of SpeedCollect was noticed by Banking Technology magazine, which gave it an award in the "Best Corporate Achievement for 2005" category.