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Study: Stumbling Blocks Arise in Straight-Through Processing

Payments processing market underserved in smaller-business segment, Aite Group finds.

By Robert McGarvey | Updated on September 17, 2013

A business Holy Grail is straight-through processing (STP) to help speed payments processing but a new study, conducted by Boston-based Aite Group in association with Longmont, Colo.- based Parascript, a recognition solutions provider, suggested that there are big stumbling blocks especially for the small businesses that are the typical target market for credit unions.

For many financial institutions, the good news is that they have in place services that will help businesses speed up payments processing – but the bad news is that adoption, outside of the very biggest company, remains anemic. The study indicated that some 67% of large corporations use lockbox services, compared to just 18% of smaller organizations.

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