CHICAGO–(BUSINESS WIRE)–Federal Reserve Financial Services today launched FedPayments® Insights Service, a business and analytics tool that generates reports on a financial institution’s payments settled through the FedACH service to help the organization advance its business strategy and day-to-day ACH operations.
“In recent years, ACH transactions have grown in both volume and total value,” said Keith Melton, senior vice president and head of product management, Federal Reserve Financial Services. “Therefore, it is more important than ever for financial institutions to analyze their ACH payment trends to help inform operational, risk management and strategic decisions. The FedPayments Insights service provides a comprehensive, easy-to-access view of an institution’s daily and historical FedACH activity, including government and commercial transactions.
This service, accessible via FedLine Web® and FedLine Advantage® Solutions can track transactions settled through FedACH for an individual sender, a single routing transit number (RTN), or a family of RTNs. The FedPayments Insights service can generate both data and visual reports on payment trends and activity, such as volume, voids and return rates. Historical data includes up to two years of detailed information and six years of summary information.
The new FedPayments Insights service can be used independently or in addition to the FedPayments Reporter service. When used in combination, certain items of interest identified by the analysis tools of the FedPayments Insights service may be automatically generated in the FedPayments Reporter service on a fixed schedule or on demand for various date ranges and customer accounts. The FedPayments Reporter service also automates the distribution of reports within the financial institution and/or to its professional customers.
To learn more and sign up for the service, visit the FedPayments Insights service webpage.
About Federal Reserve Financial Services
As the central bank of the United States, the Federal Reserve provides payment services and seeks to foster the stability, integrity, and efficiency of the country’s monetary, financial, and payment systems. Federal Reserve Financial Services is a comprehensive suite of payment and information services offered to financial institutions that includes FedNowSM Instant payments service under development, FedACH Suite of services for transactions via the ACH network, Fedwire® Funds Service for electronic funds transfers, Fedwire Securities Service for processing securities transfers, Check Services for processing electronic and paper checks, FedCash® Currency and coin supply services, the National Settlement Service for the settlement of interbank obligations, and FedLine® Solutions that allow direct access to these services. Visit FRBservices.org® for more information.
The Financial Services logo, “FedPayments”, FedACH”, “FedLine Web”, “FedLine Advantage”, “FedNow”, “Fedwire”, “FedCash”, “FedLine” and “FRBservices.org” are service marks of Federal Reserve Banks A list of brands related to financial services products offered to financial institutions by Federal Reserve Banks is available at FRBservices.org.