Adds automation and efficiency to the process of wiring funds
Symitar's Wire Management solution automates incoming and outgoing wire transfers, bringing greater efficiency to the process, reducing costs for credit unions, and delivering improved service to members. This Episys module includes a Wire Manager work area and specialized teller transactions for handling wires, as well as supporting parameters, spec files, privilege controls, and batch processes.
The Wire Manager work area enables users to perform a wire inquiry, wire creation, Office of Foreign Assets Control (OFAC) check, ABA information lookup, and verification and release of wire transfers through a queued work list.
Core compatibility: Episys®
What It Does
- Automates incoming and outgoing wire transfers.
- Provides credit unions with the ability to enter wires via:
- Teller transactions (member wires).
- Wire Manager (credit union wires).
- Enables you to purge wire records using Episys batch processes.
- Enables you to set dollar limits for wires.
- Supports security driven by end-user parameters and workstations.
- Considers relationship levels when charging fees for outbound wire transfers.
- Supports a multi-stage approval process.
- Tracks wire transfers, validates routing and transit information, and checks wire data against OFAC, SDN, and PLC lists.
- Offers a flexible Wire Item Report.
- Provides PowerOn and SymConnect access to wire records.
- Allows PC transfer to and from the Data File Directory based on user and console privileges.
- Does not require additional hardware.
What It Does For You
- Reduces risk of fraud and increases security of wire transactions.
- Eliminates errors associated with manual data entry.
- Reduces operational costs by decreasing the number of users accessing FedLine.
- Improves member service by offering an increasingly popular delivery option.