For banks with high wire transfer volumes or short service windows, FedLink Direct Connect links your wire transfer application to the Federal Reserve Bank (FRB), bypassing Fedline Advantage. Operating as an unattended server application, wire transfers are instantly received and sent to the FRB upon approval without operator intervention. FedLink Direct Connect is certified by the Federal Reserve Bank (FRB) to process messages in accordance to FRB’s protocol and specifications.
Multiple users may log in to the FedLink Dircect Connect Server from their
own workstations and share the active session with the FRB. This allows
users in the operations and investment departments to inquire and perform
Fedline type of functions from their own workstations.
The product contains automatic balancing procedures that ensure the
bank is balanced with the FRB throughout the day, and monitors the bank’s
available balance at the FRB prevent an insufficient funds condition at
the FRB.
1/13/2012
Ocean Systems addresses FFIEC Recommendations for Layered Based Fraud Control
In response to the FFIEC Addendum to the 2005 Guidelines on Security and Authentication, Ocean Systems offers a layered approach for controlling fraud, as recommended by the guidelines.
12/1/2011
Ocean Systems to Sponsor Upcoming FIBA AML Conference
Ocean Systems will again participate as a gold sponsor at the Florida International Banking Association's AML Conference.
11/21/2011
Activation by the Federal Reserve of the Fed Wire Format
Every one of Ocean Systems' US based installations was affected by the activation of the new Fed Wire format today.
