Tuesday, 16 March 2010
VSTeP productIncrease your STP rate with the VSTeP product suite
"Our Payments Transformation Programme has benefited significantly from Viveo's payment automation tools, experience and expertise."

Bob MURPHY
Head of Global Programmes GTB, HSBC

VSTeP Product Suite

Benefits
Return on Investment

swift straight through processing solution - VSTeP

VSTeP product suite

Viveo VSTeP markedly improves STP rates by automatically repairing and enriching messages.

This enables payment transactions to be conducted electronically without the need for manual intervention. The VCS signature artificial intelligence and use of lexicons is greatly increased in the new and improved product line, so too is the seamless integration into payment platforms and operating systems.

The suite has been supplemented with a number of elegant STP management products including opportunities for routing and back-charging, STP rate analysis and improvement and legacy system integration.

The Viveo VSTeP suite contains all of the following applications :

  • Viveo VRepair
    VRepair is an advanced automated message repair and enrichment application which employs artificial intelligence algorithms to improve the quality of financial messages. The accuracy, reliability and speed of repair provide a high degree of confidence of vastly improved STP rates (90%+).
  • Viveo VSolve
    VSolve integrates with existing message repair stations to assist operators in the repair and enrichment of problem messages. This is an interactive implementation of the VRepair philosophy which provides operators an interface with focussed enrichment proposals, reducing processing time by allowing selection of the correct enrichment from a list of values.
  • Viveo VConnect
    VConnect addresses the interface issue and can utilise message format, content and communication layer to provide effective translation and communication between back-office applications, and conditional message routing.
  • Viveo VLearn
    VLearn is an STP assessment tool which analyses message before and after repair, in order to highlight areas where rules might be developed to improve STP rates. In this way VRepair can ‘learn’ more about the messages being processed and propose new rules for evaluation. It also tests and validates the effectiveness of proposed rules prior to implementation in a production environment. VLearn is a powerful tool for determining the cost effectiveness of rule implementation and in measuring STP rates for existing message processing systems.

Key Features

  • Supports all message formats
  • Configurable
  • Rules based, allowing fast changes when needed
  • Full audit trail
  • Easy to use, easy to learn user interface

Benefits

Using Viveo VSTeP will enable your institution to:

  • Reduce operational costs
  • Accelerate and shorten processing cycle
  • Reduce systematic and operational risk
  • Enhance information available in Real-time

In addition Viveo VSTeP will result in

  • Correspondent and customer relationship management based on facts
  • Chargeback reporting for any repair both automated and manual
  • Reduced correspondent back charges
    • Irrefutable documentation of repair
  • Increased operational efficiency
    • Message backlogs are significantly reduced
    • Fewer operators for increased traffic
  • Streamlines back-office activities
  • Flexible, cost effective infrastructure

Return on Investment

To illustrate your Return on Investment we have come up with the following example (calculation based on acceptable global market practice):

  • a volume of 5000 messages per day
  • STP enhancement of 10%
  • €5 operational cost for manual intervention to inbound non STP messages
  • €3 reduction of financial charges for outbound non STP messages

The example shows that the annual benefits are estimated at €1,000,000.