In today’s banking, barriers for the flow of transactions are becoming less day by day. Today the transactions are flowing between banks/branches, towns and countries. The method of communication between the parties is by way of transaction messages.Banks expects a quicker, more efficient and secure means to handle these transactions.
Straight Through Processing (STP) involves generating payment messages as soon as financial event is triggered or triggering action for creation of a financial transaction as soon as a payment message is received. The processes has both Incoming and Outgoing messaging