Near-real-time wire transfer service between SilverLake and the FRB
DirectLine Wires enables banks to make near-real-time incoming and outgoing wire transfers between the SilverLake System® and the Federal Reserve Bank (FRB). This seamless solution serves as a hosted communications channel for FedLine DirectSM, the IP-based payment solution that provides a highly secure computer-to-computer interface to the Fedwire® Funds Service, the world’s largest high-speed electronic payment system. DirectLine Wires stores wire history directly in the SilverLake System, which improves research time, enables quicker modifications, and allows users to resend wires that were previously rejected by the FRB. This solution simplifies the processes of balancing and sending multiple batch wire files to the FRB, it helps eliminate the possibility of duplicating outgoing wires, and provides confirmation that wires were received by the FRB through its integration with NetTeller® Cash Management™.
This solution is available to banks automated by the SilverLake System® platform.
What It Does
- Supports near-real-time incoming and outgoing wire transfers between SilverLake and the FRB.
- Serves as a hosted communications channel for FedLine Direct.
- Simplifies the balancing process and eliminates the process of sending multiple batch wire files to the FRB.
- Helps ensure accuracy by eliminating duplicate outgoing wires.
- Enables banks to respond more quickly if a wire needs to be modified or returned.
- Enables NetTeller Cash Management customers to get confirmation that their wires have been received by the FRB within seconds.
- Integrates with the SilverLake core processing system.
What It Does For You
- Enables staff to process near-real-time wire traffic, eliminating peak hourly loads.
- Simplifies the process of sending money to the FRB.
- Enables banks to transfer funds more cost-effectively.
- Enhances accuracy and response time.
- Improves and speeds research capabilities.
- Is supported by the Jack Henry Banking experts you know and trust.