Straight-Through-Processing (STP) to Make Informed Decisions: Krishna, CTO at Intellect Designs
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Microsoft ISV Series | Powered by: Microsoft | Co-presented by Value Prospect Consulting
NotableTalks with Krishna Rajaraman, CTO at Intellect Design Arena Ltd, A global leader in Financial Technology for Banking, Insurance, and Financial Services.
Harsha (AnyTechTrial.Com): With solutions like Straight-Through-Processing (STP) mechanism for the Treasury and Capital Markets, how do you enable multiple stakeholders within an organisation to make more informed decisions, and before you answer that we would also appreciate it if you could let our audience know about what exactly is a straight-through-processing mechanism and how does it impact an organisation’s working at large?
Krishna (Intellect Design): Straight-through processing, as the phrase "simply straight-through processing" implies. There is no manual intervention; instead, a mechanism is used to automate the complete end-to-end processing of a transaction across any industry. Right. Therefore, regardless of whether the individual is initiating a funds transfer, booking a specific deposit instrument, or attempting to invest in mutual funds or stocks, the automation of the transaction's front to back processing, from the time the customer initiates it to the time it reaches the actual system of records, should be seamless. All of that needs to be completely automated, with no human interaction. That is what we mean when we say "straight to proceed." Thus, this effectively means that we need a single system to process and control all the elements in that particular workflow, assuming it's a series of steps that must occur with multiple control points or that someone must check, is available, is our fund present? Is this individual authorized to engage in this activity? Multiple checks, balances, or enrichments may occur. And all of this must occur smoothly. And that is something on which we place a high premium as part of our system. As you've mentioned in our treasury and capital markets space, you typically have three layers of systems in that space, which we refer to as the front office, the middle office, and the back office. And it simply states the general ledger. Right. This means that any request from a customer flows directly through these layers, eventually hitting my system of records, and ensuring that everything happens automatically becomes critical when we say we enable full STP processing. How is this actually beneficial? Right. The critical point is that you utilize STP processing, which ensures that my orders are processed, confirmed, cleared, and set in a timely manner.
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About Intellect Design:
A global leader in Financial Technology for Banking, Insurance, and other Financial Services. With uniquely focused products for business, Intellect Design addresses the needs of financial institutions in varying stages of technology adoption.
Intellect Design embodies rich Intellectual Property and robust platforms & products across Global Consumer Banking (iGCB), Central Banking, Risk & Treasury Management (iRTM), Global Transaction Banking (iGTB) and Insurance (Intellect SEEC).
With over a decade of continuous and significant research and development investment, the Intellect suite is the largest in the industry.
With cutting-edge products driving value in over 250 financial institutions in 30 countries, Intellect is resolutely customer-centric.
Website: http://www.intellectdesign.com
Industry: Software Development
Headquarters: Chennai, Tamil Nadu
Founded: 2014
Specialties: Core Banking, Transaction Banking, Insurance, Consumer Banking, Digital Banking, and Risk and Treasury
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