Straight-Through Processing (STP)
Straight-through processing (STP) is the automated processing of financial transactions from initiation to settlement without any manual intervention.
Straight-Through Processing (STP) refers to payment workflows that execute entirely without manual handling — from payment instruction in the ERP to final settlement in the recipient's bank account. STP rates are a key efficiency metric for corporate treasury and AP departments.
High STP rates require clean data (accurate payee details, validated IBANs, up-to-date KYC), automated approval workflows, and reliable payment rails. When any step requires manual intervention — fixing a rejected payment, re-entering bank details, resolving a compliance hold — the STP rate drops and processing costs increase. Bitwage's platform is designed for high STP rates through pre-validated payee data, automated KYC, and routing intelligence that selects the right rail for each payment.
Straight-Through Processing (STP) FAQ
Common questions about straight-through processing (stp) in the context of international payments.
Bitwage's platform achieves high STP rates through automated KYC, pre-validated payee bank details, and intelligent rail routing. Most MassPay batches process with zero manual intervention. Exceptions (e.g., failed KYC, invalid account details) are flagged and resolved through the dashboard.
More ERP & Integration Terms
Expand your knowledge of international payment terminology.
EDI (Electronic Data Interchange) for Payments
EDI is a standardized format for electronic exchange of business documents (invoices, purchase orders, payment instructions) between trading partners in machine-readable format.
ERP Integration
ERP integration connects Bitwage's payment platform to enterprise resource planning systems like NetSuite, Sage Intacct, and Dynamics 365 for automated payment sync and reconciliation.
NetSuite Integration
NetSuite integration connects Bitwage directly to Oracle NetSuite ERP for automated international payment execution and two-way reconciliation sync.
Payment API
A payment API allows software applications to programmatically initiate, track, and manage payments without manual intervention.
Payroll Integration
Payroll integration connects Bitwage to HRIS and payroll platforms like ADP, Gusto, and Rippling to automate crypto benefit allocation and contractor payment sync.
Webhook
A webhook is an HTTP callback that sends real-time notifications to a specified URL when a specific event occurs in an application — enabling instant integration between systems.
iPaaS (Integration Platform as a Service)
iPaaS is a cloud-based platform that enables non-developers to connect different software applications through pre-built connectors and automated workflows without custom coding.
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