As the volumes of data and numbers of operations grow, financial organizaions require automated systems that provide fast, reliable and secure data transfer for completing payments and calculations. For fulfilling these requirements we developed straight throught processing systems.
STP is a system providing uninterrupted automated data processing. When using STP, the data is processed, verified, enriched and transferred to other systems without operator's participation.
STP Usage Advantages
- Lowering calculation risks.
- Minimizing manual labour and employees' time consumption for data processing.
- Shortening transaction processing time.
- Lowering production costs.
STP development requires designing a business model and optimizing business processes of the organization. As a system basis various options can be used: a mechanism created by us, or an existing technology, built by the BPMN principles. Created business models and business processes are integrated into the code. That provides to develop a flexible, easily customized and supportable system.
Optimization of internal business processes of a financial organization and compliance with data exchange standards for automated systems allow to minimize manual interference in the data processing and provide a high level of STP.
Flexibility of our STP systems allows easy integration with any systems which grants fast automation and optimization of a workflow.
STP system is built with an open architecture which allows to use globally widespread communication protocols and middleware software for message processing: Oracle Service Bus, WebSphere Message Broker, Red Hat JBoss Fuse, Mule ESB, Microsoft BizTalk.
Data processing is performed real time. Basic STP algorithm includes the following steps:
- Processing received transaction data.
- Checking the incoming data accuracy.
- Comparing an incoming transaction with the transactions existing in the system.
- Reporting errors after the check up (if any).
- Reformatting the transaction to match accepted standards.
- Processing and transferring transaction to receiver.
We also provide transactions error analysis and most common issues reporting for further investigation and resolution by our specialists.