FNBB is partnering with the Federal Reserve Bank to bring you a new service to benefit your business customers.  Beginning in March 2010 we will provide Financial EDI and ACH Reporting services to our customer banks so they may provide this pertinent information to their business customers.

What is Financial EDI?

Financial EDI is the computer-to-computer exchange of payment and payment-related information between companies using a standard format.

Facts You Should Know:

• NACHA rules require financial institutions to provide payment related information (FEDI) contained in the addenda records of certain ACH entries to the receiver, if requested.
• Financial EDI works much like non-Financial EDI - which involves the electronic exchange of business data such as price quotes, purchase orders and shipping information.
• Financial EDI is different in that it involves the movement of payment which requires that a bank be involved.
• This difference means companies must work closely with their banks.
• The benefits of non-Financial EDI are well known.
• Financial EDI is playing a more dominant role in the payment and collection cycles of many businesses, local, state and federal government agencies.
• Today, it is estimated that more than 60,000 companies are doing EDI in the U.S. and a growing percentage are adopting Financial EDI.
• You may not even be aware that you have customers receiving FEDI.
• You may have lost customers by not providing this service.

Program Fee:  No Charge

Length of Presentation:  1 hour including Q & A segment

ALL SESSIONS ARE FULL!

Dates & Times:  March 23 - 9:30 AM (Session Full),  March 25 - 2:00 PM (Session Full),  April 6 - 2:00 PM (Session Full), April 7 - 9:30 AM (Session Full)

Register Now!  Space is limited for each session.  Register online or fax the attached registration form to 225-952-0825.  You will receive an email confirmation of your registration including conference details and passwords.

• Financial EDI
  • Access to translated Financial EDI to provide to your business customers.
  • No file receipt requirements.  Reports and information may be received from FNBB or FRB even if your ACH files are received at another location.
• ACH Reporting Service
  • Reports of ACH Items
    • Archive of 60 days of entries with addenda records
    • Returns
    • NOCs
    • IAT
    • DNE
    • Social Security
  • ACH Activity Report
    • Monthly totals of ACH transactions by type, dollar amount
    • Month-to-date totals and Year-to-date totals are provided
    • Received on 1st business day of the month and includes all transactions for the month
  •   Quick Scan Reports
    • Identifies your customers receiving EDI transactions whether or not they receive information
    • Terrific Marketing Tools