Oracle, Fundtech and Sierra Atlantic Collaborate on STP for Payments
Oracle, Fundtech and Sierra Atlantic have introduced Seamless STP, a solution that integrates bank payments and receivables processing systems with their corporate client’s enterprise resource planning (ERP) systems, offering corporate treasury executives a single, transparent view of cash flow. Seamless STP enables a bank to be the single point-of-contact for their corporate client’s multi-bank needs, eliminating the cost and complexity of multiple links to multiple banks.
The straight-through processing (STP) solution uses Oracle’s infrastructure and technology; Sierra Atlantic’s BankON, which integrates corporate ERP systems with their banks; and Fundtech’s Global PAYplus Payments Services Hub, which provides payment execution.
“Seamless STP streamlines corporate-to-bank communications, enabling corporations to maintain multi-bank relationships with a single point-of-contact, but just as importantly, it ties together the entire process beginning with sales through ongoing processing of payments and receivables files,” said Andrea Klein, vice president global financial services at Oracle.