As part of a multiyear effort to enhance FedCash Services, we completed a two year journey in late 2010 of transitioning customers to the FedLine Web® access solution. All customers now enjoy the benefits of direct access to the Federal Reserve Banks’ cash services and, by leveraging these online capabilities, we are able to offer new and improved tools that streamline the process of managing cash.
Looking ahead to future milestones, the user authentication process for FedCash Services Subscribers via the FedLine Web access solution will be upgraded over the next few years to a FedLine® security token. During this migration, scheduled to begin later this year and last 18 months, we will work closely with you to help ensure a seamless transition to the new security requirements.
Over time, the FedLine Web access solution will enable the transformation of our depositing practices, and enable us to achieve the following goals:
We will also introduce two new roles later this year that will allow institutions to prevent access to online ordering capabilities for staff with only depositing responsibilities. For example, one of the roles will enable institutions that outsource their depositing processes to armored carriers to authorize FedLine Web credentials for armored carrier staff, while limiting the use of that credential to entering only deposit information on their behalf. More information will be provided in advance of these changes.
As we continue on this journey towards the future state of FedCash Services, we remain committed to providing you with the necessary tools and resources to help you navigate these changes. Our FedCash Services Online Resource Center provides details on customer communications and updates to the customer roadmap. In addition, you are able to register key people at your institution to receive important updates on upcoming changes.
Address comments and questions to the Financial Services Webmaster.
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