Fedlink Wire Transfer Automation

The FedLink Wire Transfer family of products is a scalable end to end wire transfer automation system that reduces your transaction costs and enhances your customer service. Rich in feature functionality, the product has evolved since 1995 and hundreds of installations, and enjoys outstanding user feedback and satisfaction. FedLink consists of the following modules:

• FedLink Wire Transfer Core System
• FedLink Anywhere
• FedLink Direct Connect
• FedMail Notifications
• SWIFT Straight Through Processing (FTP)

These modules may be purchased separately or combined to automate your particular requirements. The integration of these modules to your core banking system provides a paperless and automated process for your wires and internal transfers. Customer or branch originated requests flow through an authorization process in accordance to your policies and resolutions of authority.

FedLink Wire Transfer Core System

• Provides a secure process from the point of inception to the release of the wire. All entries to client accounts and General Ledger are electronically posted. Client accounts are effected immediately, online, upon authorization of each request.
• The core module interfaces with the FRB Fedline Advantage. Bank personnel can prepare, authorize the clients' orders, and retrieve information from any designated workstation in the bank.
• Outgoing transfers are verified against the OFAC database immediately upon preparation. All incoming wires are verified upon receipt. OFAC verifies the entire transaction including beneficiary names, and client instructions against the database supplied by the US Office of Assets Control.
• Accepts requests prepared by clients from FedLink Anywhere and other external sources such as your Internet Banking or Cash Management applications.
• Incoming wires are matched to your client accounts to eliminate time and errors in posting transactions. Every customer entry and General Ledger entry is generated with a detailed description about the wire. Customer statements show the beneficiary/originator information of each wire transaction.

As a research and information tool, FedLink complies and exceeds search requirements mandated by IRS Record Keeping Regulations. All transfer requests, both internal and wire transfers, are maintained in a database. Users may search wire transfer history by account number, name, beneficiary, reference number, amount, and date from any workstation in the bank. FedLink includes a set of standard reports and Customer advices that may be configured to suit your auditing and client disclosure requirements.

Data security is imbedded in every facet of the system. These consist of sign-on under seven levels of access, full audit trail of all data changes, record maintenance logs, and encoded files with encrypted fields to detect data tampering. Users authorizing wires are granted functionality privileges using a multi-level structure of authorization limits.