The FedPayments Insights Service allows customers to review their daily and historical ACH data trends in a dynamic way. Financial institutions can obtain fast, accurate information that provides valuable business insights on ACH payment trends and behavior, which can be displayed in detailed visual reports.
Eva Rasmussen, chief strategy officer at Northeast Bank (Off-site), described how the service benefits her organization. “As an Originating Depository Financial Institution (ODFI), we need to prepare ACH-related reports and customer audits on an ongoing basis,” she said. “The service streamlines and simplifies our auditing and reporting processes. Previously, our ACH reporting and audit processes were cumbersome and inefficient. We had to log into multiple sites, run queries, extract data and then format it manually. Those processes are much improved with FedPayments Insights. Being able to pull ACH return and origination volume information from one location saves us a lot of time.”
The FedPayments Insights Service was created to meet industry needs for ACH analytical tools to help inform financial institutions' operational, risk management and strategic decision making. Our customers can easily access detailed information on transactions that settled through FedACH® for a single RTN or family of RTNs by using historical data, including up to two years of detailed information and six years of summarized information.
FedPayments Insights allows us to pull ACH return and origination volume from one location, saving us a lot of time.
Chief Strategy Officer
Northeast Bank
Getting started
Review Operating Circular 4 (PDF), Automated Clearing House, Appendix F4: FedPayments Insights Service, before submitting Part 6G (PDF) of the FedACH Participation Agreement to the location listed on the form.
For current FedLine® Solutions customers, an End User Authorization Contact (EUAC) with authority to manage access for FedACH Services should submit a Subscriber request via the EUAC Center within FedLine Home to authorize new subscribers or modify current subscribers' access to include the FedPayments Insights Service. If your organization does not have an EUAC with authority to manage access to FedACH Services, an EUAC Form (PDF) must be submitted first.
Additional resources
Learn more about the various visual reports and benefits by viewing the service’s product sheet (PDF).
Please contact FedACH and Check Services Customer Support or submit a contact request to ask your relationship manager to reach out to you.
Note
The Federal Reserve Banks do not sponsor or endorse any of the non-Federal Reserve Bank-related products, parties or entities discussed in this publication.
