Monarch for FRB Services (FedLine) - Detail of Own Activity

The Federal Reserve provides banking services to depository financial institutions such as account maintenance, payment services, collection of checks, and electronic funds transfer. The Federal Reserve offers these services via the different solutions;

The Federal Reserve provides important reports via the Account Management Information application (AMI) that helps depository information manage their account balances. For example,

In this example we’re going to demonstrate how Monarch can accelerate the capture of data from the ‘Statement of Account’ report, and prepare a journal entry for an accounting team.

Without a solution like Monarch this process could take up to 1 hour a day for a journal entry, but with Monarch, the process could be completed in as little as 10mins.