Udai Abburi Product Manager, Integration, SunGard Sierra
Udai Abburi Product Manager, Integration, SunGard Sierra

Elevating STP through Business Process Integration

There has been renewed emphasis on straight-through processing (STP) of FX transactions, arising from the need to handle an ever increasing volume of transactions, manage risk and gain operational efficiency. STP often relies upon enterprise application integration (EAI) techniques to facilitate the flow of data across disparate systems. However, such techniques alone are inadequate when the broader context of business agility, flexibility and efficiency is considered; giving rise to adoption of technology that goes beyond the traditional data-centric EAI methodologies. Service Oriented Architecture (SOA) and Business Process Management (BPM) extensions, including business aligned process-centric workflow definitions and orchestration of services, have the potential to further streamline STP workflows, thereby improving overall business operations and procedures.

Traditional STP Enterprise applications require widespread integration solutions to facilitate interoperability and STP workflows. EAI solutions typically employ ad-hoc custom, point-to-point interfaces or utilize proprietary vendor supplied message-oriented middleware solutions using hub/spoke methodologies. There is extensive reliance on the use of proprietary, data-centric Application Programming Interfaces (APIs) and messaging for the purpose of propagating updates to data across the silos. The resulting architecture is cumbersome, rigid and expensive to maintain due to lack of overarching standards and absence of focus on underlying business processes.  Recent advances in enterprise integration technology, most notably around SOA, strive to address the inherent shortcomings of traditional STP solutions.  Service Oriented Architecture SOA is an architectural paradigm for creating and using discrete units of encapsulated business functionality. Services may be aggregated and orchestrated...continued

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