STP (Straight Through Processing)

Straight-through processing (STP) is an automated transaction processing process that uses only electronic transfers, with no manual intervention, breaks or delays. This term is mainly used in financial circles.

Related definitions

BIC

The BIC (Bank Identifier Code) is used to identify a financial institution in any international financial transaction. Each financial institution…

SaaS

SaaS stands for Software As A Service. SaaS is a cloud-based service. When a software is available in SaaS mode,

PSD2

PSD2 is a directive introduced by the European Parliament to harmonize payment regulations within the European Union.

UMR

Stands for Unique mandate reference (UMR). It is a unique number enabling the identification of a direct debit mandate. The

Authentication

Authentication is a method enabling a computer system to verify the legitimacy of an access request before authorizing it…

SCI

SCI stands for SEPA Creditor Identifier. All creditors wishing to issue SEPA direct debits must have an SCI enabling them

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