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

Baba_Majekodunmi_703
Baba_Majekodunmi_703
Altair Employee
edited April 2022 in Altair RapidMiner

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;

  • FedLine Direct
  • FedLine Command
  • FedLine Advantage
  • FedLine Web
  • FedMail

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

  • The Statement of Account produces an end-of-day snapshot of all activity for the Master account and subaccounts
  • The Intraday Position report shows the Daylight Overdraft Balance throughout a single Fedwire day
  • The Transaction End-of-Minute Detail Report which displays all end of minute balances for a single Fedwire day
  • The Daylight overdraft charge report final provides overdraft charges for a specific maintenance period including adjustments.

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.




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