What types of transactions, banking instructions, and products can be processed via the KTT Telex system at Prominence Bank?

At Prominence Bank, the Key-Tested Telex (KTT) system is used as an authenticated bank-to-bank communication and instruction channel, not limited to funds transfers. All Prominence Bank accounts are automatically KTT-enabled, allowing the Bank to receive, authenticate, and act upon KTT instructions from correspondent institutions in accordance with applicable regulations.

Through the KTT Telex system, Prominence Bank may process, subject to compliance and mandate, the following categories of instructions and services:

• Bank-to-bank authenticated communications and confirmations.
• Funds-related instructions, where settlement—if applicable—is executed exclusively through regulated banking rails (e.g., SWIFT and correspondent banking).
• Bank instruments, including receipt, advisement, notification, or confirmation of Standby Letters of Credit (SBLCs) and Bank Guarantees (BGs).
• MT103 one-way messages used for credit enhancement, proof of funds, or conditional banking purposes, where no immediate settlement is required.
• Blocking, earmarking, or holding of funds, including conditional or purpose-specific restrictions.
• Custody, settlement, or correspondent instructions related to structured transactions or institutional arrangements.

Upon receipt of a KTT instruction, Prominence Bank verifies the authenticity of the message and test keys, performs all required AML/CFT, compliance, and operational checks, and processes the instruction strictly according to its nature and mandate. Where a KTT instruction results in settlement, funds are credited only after settlement is fully completed and posted. Where the instruction is non-monetary, it is recorded and applied as an authenticated banking instruction.

Once a KTT instruction has been validly received, authenticated, processed, and—where applicable—settled and posted, it constitutes a completed and binding banking action. Such instructions are final and irreversible, except where reversal or amendment is required by law.

All KTT-related processing is subject to Prominence Bank’s official policies, compliance requirements, and published terms.