The FedLink Wire Transfer System incorporates various modules which work together to reduce transaction processing times, and improve service levels,white conforming to all fedwire and international payment regulations. The primary FedLink components are: • FedLink Anywhere • FedLink Direct Connect • FedLink Multicurrency • FedMail Notifications • SWIFT Straight Through Processing
FedLink Anywhere’s intuitive platform allows bank customers and branch personnel to safely prepare and authorize wire transfer requests from anywhere in the world. Security and Operational Benefits include: • Secured authentication of customer requests • Fraud Reduction • Enforcement of signature requirements • Individual, group, & stack authorization • Multifactor Authentication, Much more
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FedLink Direct Connect links your wire transfer application to the Federal Reserve Bank (FRB). Wire transfers are immediately received and sent to the FRB without operator interference.
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FedLink Direct Connect is FRB certified in accordance to all FRB protocol and requirements.
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Multiple users may use the server through their own workstations while sharing the live session with the FRB.
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Automatic balancing procedures help monitor and ensure the prevention of fund discrepancies with the FRB.
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FedLink’s Multicurrency Module simplifies your international payment process by utilizing Foreign Exchange (FX) rates in real time and validating the payment to conform with country related payment STP routing rules.
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Multiple tiers and margins may be configured to assign special FX Rates to specific customers and large payments.
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FedMail automatically notifies bank customers and branch personnel vie email or fax when incoming wires are received or confirmations are obtained on outgoing wires. Notification templates are easiliy customizable to display any information in the wire, additional verbiage, and transaction fees.. FedMail advises customers with Dodd Frank Regulation E Pre-payment disclosures and payment receipts
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FedLink’s SWIFT Interface provides Straight Through Processing (STP) of SWIFT messages through Federal Reserve’s Fedwire system. SWIFT’s conversion and workflow reduces service time as well as manual configuration.
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The SWIFT interface receives payment requests and notifications from other external sources that generate SWIFT messages and begins to process them as wire transfers.
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Wires received from the Federal Reserve are also processed and generated as SWIFT messages.
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Each module within the FedLink Wire Transfer System can be purchased separately, or combined to automate your process and individual needs. The combination of these modules provides an automated and paperless solution that will comply with all AML, BSA, and wire transfer regulations.
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Both customer and branch originated messages flow easily through an authorization process in accordance to your policies and authority standards.
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Data security is embedded within every facet of the FedLink system. Within all levels of access, FedLink utilizes a multi-level structure of authorization limits to fortify security and eliminate risks.