Conversion Support for FedLine Advantage and Web

With the ever changing requirements of the Federal Regulatory bodies, keeping up with core business remains challenging. If you are finding yourself strapped for time or wearing too many hats, count on DataComm to provide custom tailored solutions to meet your needs.

The Gramm-Leach-Bliley Act (GLBA), also known as the Financial Modernization Act, requires financial institutions to establish administrative, technological and physical safeguards to ensure the confidentiality and integrity of customer records and information. In order to comply with this federal mandate, financial institutions are required to identify and assess security risks, plan and implement security solutions to protect sensitive information, and establish measures to monitor and manage security systems.

Coinciding with the advanced security required of financial institutions, the Federal Reserve Banks are now announcing the general availability of FedLine Advantage, the next generation access solution for Federal Reserve Financial Services. This new service utilizes web technology, replacing current Dos-Based solutions, to provide access to critical payments services such as Fedwire Funds, Fedwire Securities and FedACH. This solution was designed with security in mind. Routers are sent out to the participating institutions that enable encrypted communication utilizing 128-Bit VPN(Virtual Private Network) technology, replacing the antiquated encryption methods used in the Dos-Based solutions. The router works in conjunction with your already present security solution (Intrusion Detection, Intrusion Prevention and Firewall) to provide broad and multi-layered protection to the data transmitted.

Financial institutions are faced with two options to begin the implementation of the web-based service. First, they can wait until they are contacted by a Federal Reserve representative and given a date for implementation, or the financial institution can call their regional office and request a date for implementation. It is important to note that such conversions can take 18 weeks or longer to complete, so planning and allotting time is key to a successful upgrade.

The first step in the conversion process, and most important, is choosing the correct connection configuration that works with the layered security that your institution has in place. There are multiple options that include dial-up, Internet VPN and Frame- Relay solutions. Choosing the proper connection configuration is both complex and time consuming, providing many challenges and worries. Not selecting the proper configuration could have grim results:

• Penalties can be enforced if you miss the designated install date
• Your institution might be susceptible to hacking
• You may experience poor performance
• Incorrect selection results in having to start the process over, going back to the first step
• You may not be connected to FedLine At All

Once the selection has been made, a time is set for the installation. During the waiting period, it is a good idea to review the requirements for all PCs that will be utilizing this service. You must make sure that the operating system is Windows 2000 or XP, that your using Internet Explorer 6.0 or better, that you have up-to-date anti-virus software installed and that the proper Java plug-ins are present. Once the hardware and software is received, they must be installed and configured properly. As soon as the pieces are put in place and systems are brought online, the old equipment must be decommissioned and all related articles disposed of correctly.

Knowing the hassles that go along with this process is important. Partnering with a technology expert that specializes with dayto- day financial institution issues may be beneficial to your institution’s migration.

DataComm offers a service to financial institutions to offload this overwhelming process so that you can focus on your core business… Banking. This service includes:

• Designing the Proper Connection Method with Input from Your IT and Management Staff
• Coordinating with Your EUAC and Federal Reserve Bank Representatives
• Making Sure All Items are Shipped and On-Site for the Install Date
• Configuring Hardware and Aid in Software Installation
• Making Sure You Know How to Decommission Old Hardware and Destroy Related Materials

DataComm is available to work with members of your team from the key areas involved with your conversion. These areas include Management, Operations, and Technical Subscribers currently using DOS-based FedLine. As a full-service network systems integrator to financial institutions for more than 20 years, we’re experts at migrations that require familiarity with third-party software, existing or planned security systems, and existing business processes.

We provide high-quality products and services to financial institutions everyday. We also monitor the network of over 350 financial institution sites on a daily basis, so we have a direct link to the needs of financial institutions, especially community banks, where most employees wear many hats and find themselves strapped for time.

Let DataComm help you in this conversion process to save your institution time, money and most importantly, headache.