InfoComp, the wealth management division of GBST Holdings believes that straight through processing represents the solution that the majority of business managers in the UK financial services industry most want to see in place.

Kirsty Worgan, Head of Sales and Marketing at InfoComp said:

“Feedback from all our discussions with senior management emphasises the importance of effective integration with existing systems. The lack of STP is nearly always one of their biggest headaches.

InfoComp’s Service-Oriented Architecture breaks down business functions into services and tasks, so things like creating new accounts or changing addresses can be activated separately or linked to a whole range of services.  This inherent flexibility that can be used across multiple applications means that clients and external systems automatically benefit from being able to access straight-through processing.”

In the current economic climate costs are coming under increasing scrutiny – and with many organisations these are exacerbated by the error levels introduced through the frequent manual intervention necessitated by an inability to dovetail different systems.

Kirsty Worgan continued:

“Managers want a seamless interface between systems - but few have it. 

Our Composer software has been a market leader in Australia for many years, where STP is a fundamental requirement.  We have now brought that experience to our UK solutions.  James Hay is soon to roll out Composer benefiting further from its EMX compliance.

In difficult markets providers look to adapt and keep costs low.  The importance of STP has been thrown into sharp focus - and our ability to use it to underpin Composer has triggered a very positive reaction.”

Composer, InfoComp’s software solution for the wealth management and funds administration industry, is already in use by many companies in Australia including JP Morgan, Macquarie Bank, RBC Dexia, Credit Suisse, Westpac and BlackRock.