Automation of the financial supply chain has become increasingly important for businesses globally, with increased focus on overhauling processes and wringing efficiencies out of their financial supply chains. Consolidation of payments and collections processing enables these businesses to reduce internal costs as well as the fees paid to their banks. These challenges require a new way of thinking about enterprise business processes and applications.
Oracle, Fundtech and Sierra Atlantic have introduced Seamless STP™, a Solution that integrates a bank’s payments and receivables processing systems with their corporate client ERP systems, providing a single, transparent view of cash positioning. This solution addresses the industry need for end-to-end integrated processes that manage data throughout the entire process – from the corporate ERP system into a bank’s payment hub – utilizing a Software as a Service (SaaS)-based corporate payment hub integrated into their primary bank’s service offerings.
Seamless STP™ offers modernization opportunities that banks can offer to their corporate customers including:
- Improved operational efficiencies
- Enhanced risk and fraud mitigation
- Increased margins
- Efficient customer acquisition
Best of Breed Products for a Cutting Edge Solution
Seamless STP™ is an ISO 20022-compliant and rules-based Service Oriented Architecture (SOA) solution that is comprised of the following key components:
- Oracle’s Comprehensive CRM Suite – automating the sale, account opening, customer onboarding and ongoing servicing
- Sierra Atlantic's BankON™ – a turnkey, cost-effective solution for corporate ERP-to-bank integrations
- Fundtech’s Global PAYplus–Services Platform® – a state-of-the-art global payment services hub
- The solution is powered by the “Oracle Red Stack”, including Oracle Fusion 11g Middleware and Oracle Database 11g.
