Fundtech, a, US-based global transaction banking solutions provider, has selected Federal Reserve Bank’s FedGlobal ACH Payments to allow customers to send compliant International ACH Transactions (IAT).
Federal Reserve’s solution will offer Fundtech’s customers with access to the Federal Reserve Bank’s disclosure capabilities for IAT.
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According to Fundtech, the FedGlobal ACH Payments service will facilitate disclosure requirements and error resolution for financial institutions involved in the outbound, cross-border transfer of funds.
The service will complement Fundtech’s ACH solutions which automate ACH processes and provide ACH processor connectivity that benefit banks by reducing costs, improving efficiency, facilitating ACH business growth and managing risk.
Fundtech US payments strategic business unit executive vice president, Mary Ellen Putnam, said: "Together we provide solutions that maximize the value of ACH to financial institutions while ensuring compliance with the ever-evolving regulatory landscape."
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