Straight Through Processing (STP)
Straight Through Processing, or STP, is a way of processing information and transactions quickly and efficiently without the need for manual intervention. When something is processed using STP, it means that it is automatically processed from start to finish without the need for a person to review or manually input the information.
For example, if you were to make a purchase online using your credit card, the process of your credit card being charged and the money being transferred to the seller would typically be done using STP. The information about your credit card and the purchase would be automatically processed through the necessary systems and the transaction would be completed without the need for a person to manually review or input the information.
STP can be used in many different industries and contexts, such as banking, insurance, and healthcare. It is often used to speed up the processing of transactions and reduce the risk of errors, which can save time and money.