White Papers
STRAIGHT THROUGH PROCESSING: THE NEW GENERATION
The need for Straight Through Processing (STP) has never been greater. Years of mergers and acquisitions in the banking industry have left many firms with a complex network of disjointed legacy systems that are unable to communicate with other parts of the business, offer only a partial view of trading positions and are unnecessarily costly and inefficient.
These issues are not new. Banks became aware of the problem of disparate systems over ten years ago, leading to a shift away from internally developed technology and the adoption of straight through processing (STP), the end‑to-end processing workflow that encompasses the whole lifecycle of a transaction.
However, the global financial and economic crisis has forced banks to review and challenge their systems to a greater extent than ever before. Regulators across the global markets are forcing banks to consider issues including operational efficiency, transparency and timely, accurate reporting, and will require changes to be made at short notice.
Competition has increased: banks are chasing less business but are required to cut their costs in order to retain customers and attract new business. They must also demonstrate a solid track record in risk management and operational efficiency, and be ready for an increase in volumes at any time.
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