Monitoring the Straight-To-Processing (STP) Booking process with Alignia

Discover how the new Alignia helps prevent and detect problems in critical Business processes. Meet John, Service Delivery Manager for STP Booking process in a private bank, the challenges he faces and how Alignia helps to solve them. 

 

John works for ACME private bank, in the third parties services department. ACME private bank processes orders to buy and sell stock on behalf of other banks, since ACME is connected to several stock exchanges all over the world.

John is responsible for the STP Booking process. STP (Straight-through processing) means that there is no human interaction in the process, that is, it is fully automatic. Actually, human interaction is reduced to solve errors and delays that affect the process. In the stock exchange transactions, timing is vital, since stock prices change very quickly. A delay in the execution of a transaction may result in great losses for the bank.

The process is continuous. There is no end of the business day nor are there holidays with globalization: There is always an operating stock Exchange. John has difficulties sleeping because he is thinking about everything that can go wrong. He has no visibility whatsoever of the process in real time. He cannot see if somthing is stuck, if there are errors or if everything is fine and on time.

Today he has received a call from Sarah, the CIO. Management called her because several customer banks could not send their orders. Those banks have one thing in common: the channel they use to send their orders to ACME is FTP. John did not know that there was a problem in the FTP channel. Sarah was very angry. John has verified that the orders were processed, but due to the process complexity, he could not see that none of the orders came in via the FTP channel.

Like a fire department, John’s team runs to solve the problem, but the damage is already done. The perception of service  is damaged for Sarah, and for the business. John knows, Sarah will be unhappy for a while.

If John had implemented Alignia for Business Processes, he could have been able to monitor in real time the STP Booking process.

The process has three stages: order reception, order enrichment and transaction booking.

The overview of the whole process in Alignia for Business processes would be:

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John can see the three stages and can validate the number of orders that have been processed in each one. He can also see the input (in green), the processed orders (in blue) and the rejected because of defects (in red).

John receives an email notifying him that there is a problem in the FTP channel in the reception stage.  He navigates to the reception stage and he can see that the FTP channel is not receiving files, while the rest of the channels show activity:

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To get more details, John goes to the tab IT dependencies, where he can see all the components that support the reception stage. Specifically, the input FTP has a problem:

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And as a result, no orders are being received through this channel.

John and his team can solve the problem before management calls Sarah, and Sarah calls him. Even without viewing Alignia dashboards, John has several automatic alarms configured, so if the current throughput of processed orders is below average, he will be notified.

With Alignia, John is not only calmer, but also the service is provided at a higher level, the IT department has a very good reputation and ACME bank’s customers have a very high degree of satisfaction, which it is paramount in this era of Digital Transformation.

Learn more about Alignia here

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