Straight Through Processing
Regulation cost the industry at least £123 million in 2004 and 2005. In combination, our straight through processing (STP) solutions can help lenders to lower operating costs, provide significant increases in front-office productivity and improved customer service across all distribution channels.
With its associated processing efficiencies STP works to reduce costs and complexity in the following ways:
- no manual handling beyond the front-office stage due to single customer data entry at point-of-sale.
- automatic sharing of data with third party organisations involved in processing applications.
The key benefits of STP:
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The electronic ingestion of new business has allowed one of our clients to generate over £100 million of additional profit over two years.
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A typical service level on Omiga is a new product launch within 48 hours.
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One lender found that the cross-selling opportunities provided by Omiga generated extra commission which paid for the implementation project within the first year.
You can view our STP case study by using the drop-down menu to the right and selecting MCAP case study.
For further information, please contact angela.morrall@vertex.co.uk