To go a bit further than what
@Lou Ekus Just said I'll add a bit more scientific background. Stop reading if you don't care, haha! If we look at the coral animal further the bacteria responsible will be found within the corals anaerobic (without O2) or microaerobic (less oxygen) zones in the coral skeleton and the mucus layer. These bacteria use the formate as an electron donor in the process of making energy. Which is great because the coral animal will see this alkalinity and calcium release right where they may need it. In fact a bonus to all this is that some types of formate utilizing bacteria will also reduce nitrate within the aquarium. So that's something else to consider when using AFR. E.g. may need less carbon dosing or other nitrate reducing schemes to stay at the level you want to achieve.
However don't fear if you don't have a lot of coral because this conversion will also take place anywhere that has low oxygen tension in your tank. So bacteria within the live rock and within the sand bed will also allow for the increase in calcium andalkalinity.
Also a fun fact is that if you use AFR there is a increase in hydrogen gas production within the aquarium. So keep your aquarium away from flames, lol
Also to agree with the above all these bacteria are not in the water column and will not be effected by your UV.
Edited: cleaned up my messaging because I was too blunt in my post, and it read poorly.