FedLink: Facilitating

Fast, Secure & Legal

Transactions Around The

World

What Is Wire Transfer?

Wire transfer is a means of transferring funds electronically from one person or financial institution to another. Wire transfers

help facilitate modern banking and commerce, as they are nearly instantaneous, whereas paper-based methods of commerce

and finance take much more time and expense to facilitate.

Wire transfer is especially important to international finance and commerce and is tightly regulated. To ensure transfers are

secure and comply with the law, dependable, top-quality wire transfer software is essential. Ocean Systems, Inc.’s FedLink

software products meet the challenge of data security and legal compliance, providing users with a rock-solid product for

facilitating wire transfers.

What Is FedLink?FedLink is a series of software

products that facilitate wire transfers

by automating much of the process.

FedLink handles many of the

compliance aspects of international

transfers of money, and also

secures and facilitates transactions.

FedLink helps automate large

volumes of funding transfers and

also makes international transfers of

money easier by obtaining foreign

currency exchange rates in real

time. The software is

scalable, allowing institutions to buy

exactly the level of services they

need.

FedLink offers a variety of

software applications beneficial to

financial institutions executing wire

transfers. The FedLink Family of

products consists of:

• FedLink Anywhere

• FedLink Direct Connect

• FedLink Multicurrency

• FedMail Notifications

• SWIFT Straight Through

Processing (FTP)

FedLink Products

FedLink AnywhereFedLink’s Anywhere Application

makes preparing wire transfers

easier for banks and their

customers. The software uses a

variety of security measures

including signature

requirements, multifactor

authentication, limits on

authorizations and dual controls to

ensure the safety of the entire

transaction from start to finish. The

end result – faster transfers and

better communication and

collaboration among financial

institution personnel.

FedLink Direct

Connect

FedLink Direct Connect gives

clients a direct line to the

Federal Reserve

Bank, allowing them to skip

over FedLine Advantage. For

banks with a high volume of

wire transfers and limited time

to send and receive

confirmations, this streamlined

process helps them keep up

with client demands.

FedLink’s Multicurrency application

makes international payment easier

by acquiring the exchange rate for

foreign currency in real time.

Clients can adjust program

configurations to assign special FX

rates for specific customers or

large transfers. The entire process

is validated by the software to

ensure it complies with the law and

also provides straight through

processing to the transfer’s

beneficiary.

FedLink

Multicurrency

FedMail provides instant

notification to bank customers and

personnel of when incoming wires

are received or when outgoing

wires have been confirmed. Clients

can customize these notifications to

provide other relevant information

as well. The program also

automatically notifies customers

with pre-payment disclosures and

payment receipts as mandated by

Dodd-Frank.

FedMail

Notifications

SWIFT STP

Swift straight through processing cooperates with

FedLink to ensure appropriate processing of SWIFT

messages. This helps ensure straight through processing

as required by law.

Current With New Regulations,

Ocean Systems FedLink transfer system keeps abreast

of all federal regulations, ensuring that your institution

remains in compliance with the law. In July 2013, Ocean

Systems updated all affected FedLink modules to comply

with Dodd-Frank Act section 1073, subpart B, regulation E.

• Better service. FedLink ensures that all Federal

Reserve wire transfers are safe, from origination to

destination. The software provides immediate

processing and properly documents all entries to

client accounts and the general ledger.

• Fast. FedLink works to quickly facilitate wire

transfers, connecting to FedLine Advantage. With

FedLink, bank personnel can set up and authorize

orders, as well as access pertinent information from

designated workstations in their bank.

• Compliance. FedLink keeps institutions compliant

with OFAC and other Sanctions Lists Outgoing. By

staying in compliance with the law, banks and

financial institutions can avoid costly fines and fees.

• Completely paperless – FedLink allows for a truly

paperless and efficient wire transfer process.

• Accuracy – FedLink helps eliminate costly mistakes

by matching wires to accounts and creating detailed

documentation of transactions.

Why Use FedLink?

About Ocean Systems, Inc.

Ocean Systems, Inc. develops electronic funds transfer software for the financial industry. OSI produces a number of software applications, including FedLink, the OFAC EDD Server and the Enhanced Compliance Solution to meet client needs for transfer and compliance solutions. Headquartered in Miami, FL, OSI has been in business since 1991 and its products are used in more than 220 installations in the U.S., Europe, Central America, South America and the Caribbean.

Photo credit: All photos courtesy of client website, iStockPhoto, Wikimedia Commons and Morguefile.