Helps mitigate payments risk through reporting capabilities for checks processed by the Federal Reserve Banks. Receiving check return information earlier in the day allows your institution to put holds on accounts and reduce the risk of funds not being available.
Provides your institution near real-time summary of your Fed account and detailed information on most transactions (including check debits and credits)
Enables you to offer your corporate customers a controlled disbursement (CDA) cash management option with a final check presentment at a set time every morning
Allows you to elect to receive early delivery (between 7-11:00 p.m.) of your first forward FedReceipt® Plus file of the processing day, enabling you to speed settlement of checks and identify returns and fraudulent items much earlier in order to initiate returns sooner
Provides you the opportunity as a bank of first deposit (BOFD) to receive some of your incoming returns earlier than you do today, which may help address the risk of releasing funds to your depositor before you receive a returned item
Provides early notice of poor or fraudulent origination practices with threshold-based research on invalid and unauthorized returns
The Return Ratio Report provides summary level information to help ODFIs and originators monitor return item activity. The report can be automatically generated on a daily, weekly or monthly basis.
Facilitates access to a single day of payment information to expedite returns and enables a RDFI to build a database of payment transactions
Improves transparency in the ACH payment process by providing near real-time data for ACH processing batch/file data, including originator/RTN settlement notification
Helps you better understand your institution’s risk and compliance responsibilities and expectations in areas such as the Bank Secrecy Act (BSA), Anti Money Laundering (AML), Counter Financing for Terrorist (CFT) and sanctions/prohibited country website
Provides relevant information and education on current risk and anti-fraud efforts from this anti-fraud professional organization
Addresses highly fluid compliance topics, policies and procedures to aid in planned prevention and response to fraud
Provides data, as well as fraud scenarios and case studies in fraud, that can help to inform your risk and compliance expectations