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Developing an Enterprise-Wide STP Approach (Strategy Focus)

  • Publication Date:October 2006
  • Publisher:Datamonitor
  • Product Type: Report
  • Pages:10

Developing an Enterprise-Wide STP Approach (Strategy Focus)

Introduction

Handcuffed by the past financial institutions find their agility restricted and frequently struggle to exploit new market opportunities or pursue competitive customer service strategies. As declining margins threaten profitability levels, Straight Through Processing (STP) solutions are being seen as the key to manage both organizational risk as well as the end-to-end transaction flow.

Scope

  • Discusses current global business drivers and trends
  • Discusses implications for financial institutions

Highlights

The concept of STP has moved on from its original objectives of simple automation. The ability to handle risk management as well as business growth in order to provide a customer centric focus on operations are key drivers for STP system demand.

An enterprise-wide approach can alleviate these major issues by standardizing processes through automation, reducing headcount and providing a more effective control structure. The need for open standards can lead to a Service Oriented Architecture approach (SOA).

Reasons to Purchase

  • Learn about the current business issues facing financial market institutions
  • Understand the benefits of obtaining an enterprise wide approach to STP
  • Gain an insight into key opportunities for vendors
  • Catalyst
  • Summary
    • AnaLYSIS
    • The growing need for cost minimization and efficiency have put STP back onto the strategic agenda
    • Scaleable operational risk management systems that offer transaction lifecycle control are key for superior customer service
    • Firms struggling to manage growth with legacy systems in place
    • STP is evolving from systems integration to aligning organizational business processes
    • STP goes beyond simple automation
    • Financial institutions must focus on solutions that can be easily integrated into existing architectures, supplement their weaker processing areas and create a platform for future growth
    • Conclusion
  • Appendix
    • Extended methodology
  • Further reading
    • Ask the analyst
  • List of Figures
    • Figure 1: Financial institutions are facing revenue and margin pressures
    • Figure 2: Operational efficiency dominates especially in UK and Asia-Pacific
    • Figure 3: Legacy systems have created a silo-based back office
    • Figure 4: Focus on building around existing infrastructure
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