Innovative payment types like instant payments or other new technologies lead financial institutions to digitalise their internal processes, which presents a great opportunity for operational excellence and especially STP. The progressive digitalisation results in new possibilities on all sides for accelerating the processes and, with that, avoiding disruptive media breaks. Some examples for features that help to better your STP rate are:
Digital recall service
The digital recall service is a current example for the optimisation of processes with the use of modern payment formats. It enables the automation of one of the most complex parts of payments – the objection handling – and that way makes it a lot more cost-efficient.
In contrast to the more traditional paper mandates, the e-mandate is signed digitally. The decisive advantage of this is that the mandate is integrated legally into a fully digitalised mandate issuance process. That way the credit risk of direct debits and the financial institution’s risk involved in the direct debit guarantee are reduced.