Straight Through Processing
With our Exchange portal, front office architecture and proven experience in back office systems, Vertex Financial Services is perfectly positioned to provide an infrastructure which will support electronic straight through processing in financial services.
Straight through processing (STP) is the term used to describe the electronic capture of information at point of sale (once and only once) and the passing of this data through the sales, new business and underwriting processes through to issue.
Otter Risk Solutions, our third party underwriting and claims risk management subsidiary, further adds to our STP proposition by helping adapt traditional underwriting processes for use in e-commerce.
Straight through processing can offer reduced costs and complexity, vital in an industry that is under pressure to lower charges and improve service levels to consumers, as it breaks down many of the barriers that restrict e-commerce across the value chain.
The key to successful deployment of STP is in its implementation across all distribution channels. As the distribution landscape changes, a flexible deployment model is imperative; and this is Vertex's approach.
For further information, please contact: LandPinfo@vertex.co.uk
Making progress...
Watch Mike Warr, IFA and New Ventures Director at Royal Liver, give an overview of the benefits of our straight through processing solution...
