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FedFocus is your source for the latest Federal Reserve Bank Services news. Each issue keeps you informed about hot topics in the industry, as well as provides insight into the value of Federal Reserve Financial Services.

Account Services: Article Archives

Gear up for even greater data automation with the FedTransaction Analyzer® tool

January 2014

Since the launch of the FedTransaction Analyzer tool in 2011, the Fed has been gathering your feedback regarding pre-formatted reports and we have sought your ideas on simple ways to identify special items, such as cover payments, and additional views of downloaded data to help your investigative and reporting efforts. Based on input from you and your peers, the tool will now have automated reporting format capabilities available for your use via an easy-to-use, drop-down menu. Read the complete article to learn more about these customer driven enhancements. 
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Central Bank: Article Archives

There are currently no articles in the FedFocus archive for this service type.

 

 

Check/Check 21 Services: Article Archives

First United Bank and Trust Company gains knowledge from check adjustments webinars

June 2014

First United Bank and Trust has recently taken advantage of a number of the Fed’s check adjustments webinars to help support its training needs. Check adjustments webinars are interactive training sessions offered to help maximize an institution’s understanding of check adjustments. During each webinar, a facilitator provides a detailed handout related to the webinar topic and explains each page. Find out about the knowledge staff members gained that can be applied – right away – to operations.
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Customer Support: Article Archives

Sometimes less is more: Your feedback helps simplifly access to customized Fed contact information

September 2014

We all live and work in a world that demands we remember enormous amounts of information. The more information that is available via today’s technological advancements, the more connected we are to what’s happening across the country and around the world. When we think about all the things we rely on to manage our day-to-day lives, it truly highlights that in many instances having to remember less … is really more. In this issue, we share two examples of how your feedback prompted efforts that make it quicker and easier for you to reach our support experts.
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Events and Education: Article Archives

FEDucation is no risky business

September 2014

A critical component to any financial institution’s risk management and fraud detection is education and training, which can help prevent financial losses and reputational harm in a payments environment that continues to evolve with new and more complex risk factors. Education and training alone, though, are not enough. It is essential that your financial institution also identify and leverage the right tools to support your staff in mitigating potential threats. One such tool, developed by the Federal Reserve Banks, is the FedTransaction Analyzer® Service. Learn how the service can help support your institution’s compliance and monitoring processes.


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On the rise: ACH transactions

August 2014

Did you know that ACH transactions rose at an annual rate of 5.1 percent from 2009 to 2012, according to The 2013 Federal Reserve Payments Study Summary Report and Initial Data Release? With increases in ACH transactions expected to continue, it is important to keep up-to-date on ACH operations and risk management. Take a look at the FEDucation opportunities we offer to help financial institutions increase operational efficiencies and mitigate risk.
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Spotlighting upcoming Regional Payments Association events

July 2014

The Fed actively seeks opportunities to collaborate with the banking and financial services industry. We participate in many industry events throughout the year, with participation varying from attending or hosting an event, exhibiting with our Fed booth, and/or serving as a conference presenter or panelist. Many of these events are hosted by Regional Payments Associations (RPAs), which have a shared mission to educate users and provide information and resources to their members. Read more about upcoming RPA events where you can find Fed representation.
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Make a splash by diving into these FEDucation opportunities!

June 2014

With summer quickly approaching, we are entering the time of year where thoughts of barbecues and long days spent at the pool abound. We are also getting close to the end of the first half of the year, a time to reflect on our early accomplishments and focus on building upon them. Now is also a time to think about how you can leverage the valuable Events and Education offered by the Fed. Take a look at our featured events, then dive in by registering today!
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Spring brings blossoming opportunities to grow your FEDucation!

May 2014

May is blossoming with bright opportunities to expand and enhance your FEDucation. Now is the perfect time to take advantage of some of the valuable education opportunities available in the Events and Education section of FRBservices.org. Learn how our on-demand, complimentary webcasts can help your organization onboard new staff; refresh the skills of existing staff and even train staff members to serve as trainers themselves.  
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A FEDucation isn’t too taxing

April 2014

You work hard every day. To help prevent any extra toll on you, we make obtaining your FEDucation easy by offering a wealth of education and training opportunities that simplify and explain how our tools and services can help you be more effective and efficient within your financial institution. And, there’s no looming deadline for our on-demand online learning opportunities that you can view at any time right from the comfort of your desk.
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FEDucation: Coming to a city near you!

March 2014

Every year, the Federal Reserve Banks participate in industry meetings and conferences throughout the country, and internationally, via staff attendance, an exhibit booth or as speakers or panel presenters. This provides both our friendly Fed team and your financial institution with an easy and convenient way to connect in person. Do you have burning questions about the Fed’s service options? Take a look at our Industry Events listing then set up some time with your account executive or stop by our booth to speak with the Federal Reserve experts face to face.
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FEDucation: What’s not to love?

February 2014

During February, a month long-celebrated by honoring love, what’s not to love about free education that provides you greater insight and helps you build greater skills in using your Federal Reserve Financial Services? Each year, the Federal Reserve Banks create new offerings or update existing sessions in our Events and Education curriculum. If you have not yet participated in any of our training sessions, now is a great time to develop that relationship … dare we say fall in love with all the options available to you.
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Kick off the New Year with more! Check out these new and updated check adjustments webinars

January 2014

Most of us often kick off the New Year hoping for less — clutter, paperwork, holiday pounds. This year, how about hoping for more — updated events, great value, new topics? In 2014, our education team is continuing its commitment to provide check adjustments webinars designed to help you maximize the benefits of our Check Adjustments Services. Several webinars have been updated, plus, the Fed is also offering a new topic entitled, Check Adjustments Train the Trainer (T3). Learn how you can get more from our new and updated check adjustments webinars.
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Find a quiet moment to invest in your FEDucation!

December 2013

Most likely, due to the frantic pace of end-of-year activities, you cannot find much free time on your calendar. On the unusual and happy occasion that you do find a quiet moment, consider spending that time investing in your FEDucation for 2014. Block off some quiet time into your schedule for these featured Federal Reserve Bank events.
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It is never too early to plan your FEDucation strategy for 2014. Take action today!

November 2013

Each new year seems to bring with it a new set of adjustments and challenges. Keeping in mind what seems like an increasingly faster pace driven by advancements in technology, it is never too soon to begin thinking about how you will leverage the valuable Events and Education curriculum available from the Fed in 2014. Put your plan into action by registering for one of our featured webinars today!
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FEDucation delivers efficiencies for Vantage Credit Union

October 2013

In the July FedFocus, we told you how Vantage Credit Union (VCU) set a SMART goal to fully delve into the series of check adjustment learning opportunities available to Fed customers. Congratulations are in order! Over the last few months, VCU completed all six check adjustment webinars. Hear how this investment resulted in internal efficiencies and many benefits for the VCU team.
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FedACH® Services: Article Archives

Leverage automation and risk management to grow your corporate customer revenues

August 2014

The Automated Clearing House (ACH) network provides a reliable and efficient electronic payments platform that is increasingly used to send business-to-business payments. For many financial institutions, the information that is contained within the ACH payment file is more valuable than the actual payment. If your institution would benefit from an automated means of assisting its corporate customers with the tedious task of matching ACH payments to open invoices or to recipients, check out our FedPayments® Reporter Service.
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Continuing the theme: NBC Oklahoma helps its business customers help themselves

August 2014

This month, as we continue our focus on the FedACH Risk® RDFI Alert Service, we visited with Angela Ross and Leigh-Anne Taylor, both of whom described ways that NBC Oklahoma has tailored RDFI Alert notification criteria to address the needs of a wide variety of its business customers. Hear firsthand how this alert service enables financial institutions to help their business customers protect themselves against unwanted transactions and stay better informed about activity on their accounts in general.
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How the FedACH Risk RDFI Alert Service helps South Side Bank help its business customers

July 2014

Recently, we visited with Jeff Ward, vice president of South Side Trust & Savings Bank, who told us how the FedACH Risk® RDFI Alert Service is helping his bank help its business customers by not only protecting themselves against unwanted transactions, but by staying better informed about activity on their accounts in general. Read how South Side has added the FedACH Risk RDFI Alert Service as a standard component of its business account package, which has become part of a routine that helps reduce risk.
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A sharp focus on customers needing international payments spurs growth for Community Savings Bank

May 2014

The Federal Reserve Banks are keeping up with customer demand for a low-cost, efficient cross-border payments service as consumers send more money internationally to family and friends. The FedGlobal® ACH Payments Service provides a wide range of payment options to help meet that demand by combining convenient access with robust customer support. Read how focusing on customer service and ever-expanding country offerings solidified an expanding use of the FedGlobal Service for one community bank.
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Mining the value of FedACH Services payment information

April 2014

The Federal Reserve Banks understand that data about a payment can be almost as valuable as the transaction itself. That’s why we offer a suite of FedACH information services to help you extract the nuggets of information associated with the payments, helping to eliminate the need for you to dig through mountains of data. Unearth more about how our information services tools do the digging for you, automatically and according to your specifications.
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Cross-border payments may provide increased revenue opportunities

February 2014

As the world becomes increasingly connected and international business continues to expand, more and more Americans are sending money across borders. These payments have led to an increased demand for a low-cost, efficient cross-border payments service. U.S. financial institutions are utilizing FedGlobal as a means of increasing profits while providing additional value to their customers sending cross-border payments. Read more about the data that points to a notable opportunity to potentially increase revenues by offering a cross-border payments service, especially payments to Mexico and other Latin American countries.
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FedPayments Reporter Service helps reduce tedious, manual work for Georgia Bank & Trust customers

November 2013

For health care providers, matching Automated Clearing House (ACH) payments to open invoices can be a tedious task. Hear how, by offering the FedPayments Reporter Service, Georgia Bank & Trust is cutting this work significantly for its customers. What once took hours is now taking a fraction of the time thanks to the service’s automated emails and human-readable reports.
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Credit Union ONE expands its service offering to the community at large with FedGlobal ACH Payments

November 2013

As business expands globally, the Federal Reserve Banks are keeping up with demand for a low-cost, efficient cross-border payments service. The FedGlobal ACH Payments Service (FedGlobal) provides a wide range of payment options to help meet that demand by combining convenient access with robust customer support. Learn how Credit Union ONE is using FedGlobal to expand its community.
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FedCash® Services: Article Archives

Costs and benefits of the $1 currency-to-coin conversion

July 2014

Public attention has focused recently on the possibility of replacing the $1 Federal Reserve note with a $1 U.S. coin. To promote increased awareness of the broader implications of such a transition, the Board of Governors’ Division of Reserve Bank Operations and Payment Systems published a working paper outlining the costs and benefits to the U.S. economy and its participants, including financial institutions, armored carriers, merchants, Federal Reserve Bank cash services and government agencies. Discover more about the factors that lead to the conclusion reached by the Board.
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100 years of Federal Reserve cash processing

May 2014

In the not so distant past, cash processing tellers at Federal Reserve locations around the country counted currency one note at a time and judged authenticity by the sight and feel of individual notes before packaging them for recirculation. Discover how the Federal Reserve, equipment manufacturers and our industry partners have worked to transform the once manual process into the reliable and efficient high-speed mechanized system of today.
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A synopsis of: Maintaining a Robust and Efficient Cash System in a Changing Landscape

March 2014

With nearly $1.2 trillion of U.S. currency in circulation, cash remains an important component of the financial system. To maintain the public’s confidence in U.S. currency and increase efficiency in the cash system, the Federal Reserve has taken several important steps in recent years. Discover how the Fed’s initiatives help reduce operating costs and provide incentives to the private sector to adopt the most efficient cash handling practices.
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America the Beautiful Quarters Program® continues in 2014 with five new sites

January 2014

The Federal Reserve Banks are preparing for the continuation of the America the Beautiful Quarters Program that was created in 2010 by the United States Mint. The focus of the program, now in year five of a planned 10, is to introduce a series of 56 quarter-dollar coins, each of which will feature a design depicting a United States national park or site. This year, Great Smoky Mountains National Park in Tennessee is being featured. Discover which other sites will be honored in 2014 along with the release date for each coin.
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Make business continuity planning part of your New Year’s resolution

January 2014

With the winter season intensifying in many parts of the country, this is a timely reminder that business continuity planning is a good way to start the year to help ensure you are ready for whatever Mother Nature sends your way. Make it part of your organization’s New Year’s resolutions to review your business continuity contacts, checklists, processes and procedures so you are prepared to respond to potential weather, or other, disruptions. Find out how the Fed prepares for potential disruptions and keep the FedCash Services Business Continuity Reference Sheet of online resources handy.
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The redesigned $100 note began circulating October 8, 2013

October 2013

The redesigned $100 note began circulating on October 8, 2013. Distance, demand and the policies of individual financial institutions will be the deciding factors in how quickly redesigned $100 notes reach businesses and consumers, both in the U.S. and in international markets. Take a look at the answers to two frequently asked questions and review the resources to learn more.
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FedLine® Access Solutions: Article Archives

Connect with confidence via a FedLine access solution

March 2014

We know that you have many financial services solutions available to you. Did you know that connecting with the Fed via a FedLine access solution provides you with extensive network reach, in addition to offering control over, and flexibility within, your financial services? All of this while reliably delivering the security you have come to expect from the Federal Reserve Banks. Learn more about our suite of access solutions that range from simple, low-cost email delivery, to sophisticated, direct connections for unattended processing.
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Two Next Generation VPN Solution early adopters experience smooth migration due to advance prep work

February 2014

Since the July 2013 launch of our Next Generation Virtual Private Network (VPN) Solution initiative, well over a thousand financial institutions have replaced their old VPN devices, a key security component of FedLine access solutions, with a more contemporary solution. The Bank of Abbeville and Trust Company and Adams Bank & Trust were among the first institutions to make the switch. By utilizing the resources available from the Fed, both institutions experienced a smooth and easy migration. Hear what two bankers have to say about their preplanning efforts.
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Fedwire® Services: Article Archives

There are currently no articles in the FedFocus archive for this service type.

 

 

General: Article Archives

Look into saving money with updated FedComplete® Packages

February 2014

The Federal Reserve Banks are continually looking for ways to develop service offerings that provide you with simplified business solutions and may save you money on your monthly Fed bill. One such solution – our FedComplete Packages – are all-electronic service packages that bundle payment services with a FedLine Advantage® Plus access solution for one monthly fee. Take a closer look at how you can maximize our payments services with these two valuable service offerings.
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100 Years of Central Banking

December 2013

The Federal Reserve Bank of Chicago featured an article entitled, “100 Years of Central Banking” on its website recently. The article provides a historical perspective regarding how the Reserve Bank locations were selected, along with an assortment of links to historical documents that, thankfully, have been preserved in the Fed’s archives. Discover more about the early beginnings of the Fed as you take a step back in time.
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Investing in technological enhancements to help deliver faster, more efficient payments processing

November 2013

In recent years, the payments industry has experienced many changes; perhaps most evident is the shift toward electronic payments processing. As this changing landscape continues to unfold, we are faced with the constant challenge to keep pace with the evolving industry and maintain the integrity of both the U.S. payment system and the operations of financial institutions. Learn how our 2014 product and pricing changes reflect our efforts to meet the current and future needs of all financial institutions.  
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Maine Savings Federal Credit Union discovers greater automation and savings with the Fed

October 2013

We recently caught up with David Sayers from Maine Savings Federal Credit Union to talk about working with the Fed to implement a FedComplete® Plus Package. He shares his views on the advantages of partnering with your account executive, the benefits Maine Savings is realizing from its FedComplete Package and how the Fed delivers exceptional customer service.
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Industry Perspective: Article Archives

Payments study reveals substantial changes in the composition of noncash payments

September 2014

The U.S. payment system is one of the largest, most complex engines of commerce in the world. Every day, billions of transactions occur between buyers and sellers of goods and services. While cash continues to be used widely for these transactions and plays an important function as a store of value, card and Automated Clearing House noncash payments more than doubled since 2000. Based on The 2013 Federal Reserve Payments Study data, while the number of total noncash payments grew almost 69 percent since 2000, the composition of noncash payments also changed substantially. Find out more about the trends in noncash payments by number and type of transaction.
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Research studies pave the way for Payment System Improvement Roadmap

August 2014

In the past year, the Federal Reserve completed several research activities to help identify potential strategies to improve the U.S. payment system and advance its strategic direction. Among those research activities were the Faster Payments Assessment, the ISO 20022 Business Case Assessment and the Payments Security Landscape Study. These studies were critical to the Fed’s evaluation of end-user demand and feasible alternatives for achieving faster retail payments, enhancing cross-border payments and identifying gaps and opportunities related to payment system security. Learn more about these research efforts, including where to find details of the objectives, research observations and key takeaways.
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Now available: The 2013 Federal Reserve Payments Study Detailed Report

August 2014

The 2013 Federal Reserve Payments Study Detailed Report, released on July 24, 2014, provides new information on the payments landscape. Read up on key findings that include: updated results on the intensity of card use by consumers and businesses, new estimates of over-the-counter cash withdrawals and deposits at bank branches and wire transfers made by businesses and consumers, and further discussion of previously released information on third-party payments fraud, among others. 
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Join the conversation: Fed to host Town Halls on improving the U.S. payment system

June 2014

Join the Federal Reserve Banks for one of six national Payment System Improvement Town Halls during the month of June. The Town Halls are open to the public and will feature leaders from the Federal Reserve Banks facilitating discussion on possible strategies and implementation approaches on topics including faster payments, security, business-to-business (B2B), settlement, international, and more. Industry participants can use the Town Halls as an opportunity to weigh in on the strategies and solutions under consideration for the Reserve Banks’ payment system improvement roadmap, which will be shared in a paper this fall. We encourage you to attend and share your thoughts as the entire industry works to improve the payment system. Advanced registration is required and space is limited, so register today.
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Key themes from consultation paper feedback and end-user research

April 2014

A lot of work has been done since the Reserve Bank’s October 2012 announcement of our updated strategic focus for Federal Reserve Financial Services. Since then, we’ve researched the current state of the U.S. payment system and identified gaps and potential opportunities for improvement. We then vetted these gaps and potential opportunities in numerous industry discussions and rolled that research and industry input into the “Payment System Improvement – Public Consultation Paper,” released for input in September 2013. As we analyzed the industry feedback from that paper, we also researched end-user demand for select payment attributes. Discover more about the key themes from the paper and end-user research and learn how you can stay informed.
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Nearly 200 weigh in on U.S. payment system improvements

February 2014

On September 10, 2013, the Federal Reserve Banks released a “Payment System Improvement – Public Consultation Paper.” Payment system participants and end users provided input on the gaps, opportunities and desired outcomes articulated in the paper; potential strategies and tactics to shape the future of the U.S. payment system; and our role in implementing these strategies and tactics. We sought industry feedback as input to inform our decisions regarding future improvement initiatives, which will be communicated in a paper to be published in the second half of 2014. Learn how this input will be put to use and which industry segments were represented.
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The 2013 Federal Reserve Payments Study indicates payments are increasingly card-based

January 2014

Trends in noncash payments are influenced by many factors, including technological and financial innovations, changes in consumer and business financial behavior, the business cycle, the composition of economic activity, regulatory developments and population growth. Based on the 2013 Federal Reserve Payments Study summary report, released December 19, 2013, many trends observed in previous Federal Reserve Payments Studies, such as the rise in the use of debit and prepaid cards and the decline in the use of checks, continued to be observed in the current data. Learn what other trends, such as the use of credit cards, changed markedly.
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2013 Chicago Payments Symposium recap: Towards an industry roadmap

December 2013

More than 160 payments industry leaders in attendance at the 2013 Chicago Payments Symposium collaborated to explore the paths to faster, safer, more efficient payments from end-to-end. The Symposium provided a forum for exploring the “Payment System Improvement – Public Consultation Paper,” released on September 10, 2013, which shares the Federal Reserve’s perspectives on the key gaps and opportunities. Read keynote speaker and breakout session observations and find out how you can share your views.
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Risk Management: Article Archives

Planning makes perfect: Put these best practices to good use before disaster strikes

June 2014

If there’s one thing this past winter demonstrated, it is that business continuity planners must be ready for anything at any time. These days, contingency planning expands beyond natural disasters to man-made emergencies that include system outages and data breaches. While you can’t anticipate when a disaster will occur, you can plan how disruptions will be handled. Take a look at these best practices and quick tips that can help you and your staff be better prepared should that unwelcome disruption occur.
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Treasury Services: Article Archives

There are currently no articles in the FedFocus archive for this service type.

 

 

eBusiness: Article Archives

There are currently no articles in the FedFocus archive for this service type.

 

 

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