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FedInsightsSM

FedInsights

The three Ms: Manage, monitor and maximize with FedInsights

May 2009

In addition to robust payment services, financial institutions of all sizes seek quick and easy access to the information behind their payment transactions. To help meet this need, the Federal Reserve Banks offer FedInsights (PDF), a comprehensive suite of information services designed to help you better manage your payments business. 

The FedInsights comprehensive suite of services is available to customers via FedLine® Customer Access Services and provides information that can easily be shared among multiple members of your organization.

Included FedACH® Services

FedInsights provides you with convenient access to information behind your FedACH Services transactions. You can review settlement information, find profile information about other automated clearing house (ACH) participants, derive returns, generate notifications of change and obtain reference information related to all of these activities.

FedInsights also provides access to FedACH Risk® Management Services, which can help you mitigate ACH risk and monitor origination processes.

  • FedACH Risk Returns Reporting Service identifies potential ACH fraud and problem accounts and allows you to monitor administrative returns for any originator
  • FedACH Risk Origination Monitoring Service helps originating depository financial institutions (ODFIs) control and monitor ACH items your customers originated by customizing monitoring criteria, setting credit and debit caps and setting alerts for batches that exceed a credit or debit cap
  • FedACH Risk RDFI File Alert Service provides an early warning notification system for a receiving depository financial institution’s (RDFI’s) incoming FedACH files that exceed certain pre-selected thresholds, helping protect you and your customers against intentional fraud attempts and unforeseen errors on the part of an ODFI

FedACH customers can also take advantage of the FedEDI® Plus Service, which automates online setup and report generation and delivery, including the electronic data interchange (EDI) data translation reports RDFIs provide to customers. You can schedule automated creation of regular reports and fully automate delivery and customer retrieval of EDI translation reports from an encrypted e-mail portal (PDF). Learn more about FedEDI Plus by reading, “Now available: New reports help automate access to FedACH information.”

The FedEDI Plus Service eliminates manual downloading and searching for valuable FedACH data and allows for easy identification of customers with EDI in the addenda data. Check out the online resources to learn more.

Included Account Services

FedInsights also helps you manage your Federal Reserve account. Account Management Information (AMI) provides real-time account balance, daylight overdraft and available funds balance information throughout the day, including transaction detail. It also provides customizable reports in summary or detailed form.

AMI Premium Services provide additional conveniences to increase efficient funding of your Federal Reserve account and offer options for viewing and downloading your data into spreadsheet compatible formats.

Service Charge Information (SCI) allows you to view monthly billing Summary Statement of Service Charges electronically and provides the details behind the summary.

These Account Services eliminate the frequent need to interface with multiple departments for account information. They provide single-source access to account information and reduce your reliance on paper records with the convenience of electronic recordkeeping.

Included FedCash® Services

FedCash Services customers can also benefit from FedInsights by accessing Cross-shipping Reports, which can assist you in monitoring and managing cross-shipping activity and potentially avoiding any fee impact. Flexible options allow you to monitor information in a variety of ways, providing convenient and efficient access to critical details. To learn more, read, “Managing cross shipping with cost-saving tools (PDF).”

Who can benefit?

Staff across your organization can benefit from access to FedInsights. Account reconcilers, accounting managers, ACH supervisors, cash managers, clerks and operations managers, along with senior management and treasurers, will find information access useful. Institutions that outsource processing of payments transactions can use FedInsights to stay in control of payment information. If you need additional information, contact your account executive.

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