Centralized Database and Automation: Key to Overcome the Challenge of Missing or Inaccurate Standard Settlement Instructions


  • Vishesh Baghel Department of Computer Science and Engineering
  • Dr. Syed Wajahat Abbas Rizvi Department of Computer Science and Engineering, Amity University Uttar Pradesh Lucknow Campus, India
  • Dr. Rashmi Priya GD Goenka University, India




Standard Settlement Instructions, swift messages, payment instruction, settlements, ssi database


To achieve effective and automated payment processes, straight-through processing (STP) has been implemented in the financial sector. The implementation of STP is, however, still hampered by the existence of incorrect or absent standing settlement instructions (SSIs). This research study explores the reasons of missing or incorrect SSIs in the banking sector, their effects, and potential fixes. The complexity of the situation is further increased by the examination of the variety of channels used by parties to transmit their SSIs. According to the report, incomplete or inaccurate SSIs are a significant cause of payment failures and unneeded expenses, hence a workable solution is required. The research recommends the implementation of a centralized SSI database that can be accessed by all parties involved in the payment process, as well as the automation of SSI updates to ensure accuracy and efficiency.


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How to Cite

vishesh baghel, Syed Wajahat Abbas Rizvi, and Rashmi Priya, “Centralized Database and Automation: Key to Overcome the Challenge of Missing or Inaccurate Standard Settlement Instructions”, J. Infor. Electr. Electron. Eng., vol. 5, no. 1, pp. 1–13, Apr. 2024.




Research Article