| Straight Through
Processing or 'STP' is the current paradigm in transaction
processing and describes a methodology focused on automating
an entire business process by integrating internal and external
parties within an information-sharing environment largely
driven by automated processes and decisions.
Within the Australian lending industry the
securitised and unsecuritised loan application process is
largely dominated by third-party information sharing, where
processing outcomes are a direct consequence of third-party
decisions. This means the basis of any STP strategy is integration
with a variety of external parties, such as loan originators,
credit reference agencies, valuers, mortgage insurers, lenders
and solicitors. Upon this foundation a variety of automated
internal decision making rules and outcomes can be built.
Of course this means any solution should be focused on:
- Supporting both LIXI and non-LIXI
interfaces via a centralised B2B gateway , with an ability
to assimilate received information directly into the decision
making and workflow process
- Extending the capture of application
information into a sales channel and providing a back-channel
communication capacity that keeps an originator informed
- Automating low intensity processing
requirements whilst managing work queues and redirecting
exceptions
- Managing and maintaining process
decision rules within a flexible environment that can respond
to change
- Delivering clear outcomes to the
right staff member or third party on a realistic time scale
Our services and products when combined with
our long term industry knowledge underpin our STP solutions
and ensure our capacity to deliver.
Interested?
Call now to find out more or organise an appointment, 1300
721 243.
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