Find the Best Wire Transfer System
The FedLink Wire Transfer family of products delivers a seamless wire transfer system. Scalable throughout the entire process, FedLink reduces transaction costs and enhances your customer service efforts. Rich in feature functionality, FedLink has evolved to meet regulatory enhancements since 1995. As a wire transfer system with hundreds of satisfied bank customers globally, FedLink has garnered outstanding user feedback, while delivering and passing numerous regulatory examinations. Through outstanding performance under an unlimited number of unique requirements, FedLink has earned the distinction, to be considered an industry product line of choice.
FedLink is Comprised of the following Modules :
- • FedLink Wire Transfer Core System
- • FedLink Anywhere
- • FedLink Direct Connect
- • FedLink Multicurrency
- • FedMail Notifications
- • SWIFT Straight Through Processing (FTP)
Banks can purchase modules separately, or combine them to automate specific requirements. By integrating these modules within your core banking system, institutions achieve a paperless and automated process for wires and internal transfers. For added assurance, all customer or branch originated requests flow through an authorization process in accordance to your policies and resolutions of authority
Fed Link—Always on Task, Always Up to Date. As of July 2013, all affected modules have been updated to comply with the amendment of subpart B of Regulation E, implementing section 1073 of the Dodd-Frank Act. FedLink Core, FedLink Anywhere, FedMail and the Multicurrency modules are all enabled to produce and advise in multiple languages, the Prepayment Disclosure and Payment Receipt, as required by Dodd-Frank Reg-E.
Discover all that the FedLink Wire Transfer System can do:
• Improve Provide a secure process for Federal Reserve wire transfers from point of inception to release of the wire. All entries to client accounts and General Ledger are electronically posted. Client accounts are processed immediately, online, upon authorization of each request.
• Reduce Service Times To facilitate Federal Reserve wire transfers, the core module interfaces with the Federal Reserve Bank (FRB) FedLine Advantage. Bank personnel can prepare, authorize clients' orders, and retrieve information from any designated workstation in the bank.
• Verify with OFAC and other Sanctions Lists 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.
• Paperless operation Accepts requests prepared by clients from FedLink Anywhere and other external sources, such as your Internet banking or cash management applications.
• Eliminate Mistakes 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.
For Compliance and Prompt Customer Service 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.
Security is Assured 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.