SmartStream Technologies the market leading provider of Transaction Lifecycle Management solutions and Celent, a leading financial research and consulting firm, today released findings of new research into European Post Trade Processing. The study, announced at Sibos, revealed that:
STP has been embraced as a concept but actual practice shows a lack of commitment.
Banks and Asset Management firms are not allocating sufficient time and attention to Back and Middle Office STP initiatives.
Banks across Europe remain siloed as a result of STP projects that have failed to fully rationalise back office systems across product categories.
Upstream systems are not adequately capturing transaction detail, and this is creating hazards for downstream processing.