Wire Transfer

The ACCORD^® Funds Transfer System (FTS) permits a financial institution to offer a comprehensive range of wire transfer services to its clients through automated processing of payments using the Federal Reserve Bank's FedWire Payment System. FTS is designed to be easy to use, improve customer service, and increase productivity as well profitability. In addition, it can reduce liability by making regulatory compliance more manageable and lowering exposure to operator errors. Additionally, its comprehensive security system enhances the overall wire processing operation.

ACCORD^® FTS is a modular and scaleable system. It can be configured to handle anything from a few hundred FedWire transactions to many thousands per day. Using standard platforms, products and components, it provides a resilient and flexible system that can be implemented in a phased manner to provide a cost-effective fund transfer solution.

When integrated into ACCORD^® FinancialNet, (Yojna's image-capable information reporting and transaction origination Internet banking solution), a financial services provider can create a seamless single point of entry from the Internet a broad retail and commercial product array, including wire transfer services.

If integrated into the core system, ACCORD^® FTS support online verification of client balances. These balances can either be updated in real-time or memo posted, depending on the capabilities of the core system.

ACCORD^® Funds Transfer System Features and Options

• Profile Manager
• Service Charges
• Historic Retrieval for Customer Inquiries
• Net Funds Position Monitoring with FRB
• Customer Name & Address Processing
• Multi-Banking
• Remote Wires
• Regulatory Compliance
• Recurring Wires
• Customer Advices by Fax or E-mail
• PINS & Test Keys
• Customer Funds Control
• Full ABA Lookup
• Audit Trails
• Standard Interfaces to Core systems
• Expects to Receive Matching
• OFAC Filtering
• Management Information via the Summary Screen

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Summary

ACCORD^® FTS can be used as an independent system or it can be used in conjunction with other ACCORD^® products to create a “single electronic window” to the financial institution’s information services. Provides a modular and scalable system using an industry standard platform.

• Increases productivity and lessens liability by reducing operator error through:
  • Use of ‘multiple document interface’ for handling multiple tasks and viewing multiple screens at once.
  • Improved customer service with fewer errors.
  • Customer advices sent by fax or e-mail
  • Historic Retrieval module and its comprehensive search capability to speed up investigations.
  • Comprehensive security and risk management.
  • Increased profits to the financial institution from fee income (service charges) and increased productivity.
  • Full compliance with the Bank Secrecy Act and OFAC. 

Take the first step towards providing your clients with a quality Wire Solution and contact our Marketing Representative for more information.