Funds Transfer System (FTS)

The Lighthouse Funds Transfer System Gateway (FTS) product provides a file-oriented mechanism for delivery and receipt of payments through a Fed-certified FLASH interface using a computer interface link. The system accepts files of formatted payments from an external message preparation system for delivery to the Federal Reserve System Funds Transfer application, and receives payments, reports, and control messages from the Fed for export as batched files. FTS supports delivery and receipt of all message formats defined in the Fed Funds Transfer Computer Interface Protocol Specification. The product's client interface provides browsing, printing, system control, and file maintenance functions under an application-level security interface. FTS runs on Windows 2000 network platforms.

The FLASH interface maintains the communications link with the Federal Reserve system Funds Transfer application. Payments are sent and received over the interface, along with reports, report requests, acknowledgements, and control messages. All messages are audited on the Send and Receive message tables. Delivery status is retained in a Checkpoint table that permits session recovery over communications interface failure without loss or duplication of traffic.

Key Features

  • File Import monitors a network accessible directory for new files comprising batches of formatted payments to be delivered over the interface. File Export periodically sweeps received payments and reports into message batches on a designated directory for processing by external systems. Both Import and Export retain an audit trail of activity.
  • Imported files are edited for validity and parsed into individual payments. Valid payments are made available for Send processing.
  • Valid payments are audited and applied to the delivery database for processing by the FLASH interface and delivery to the Fed.
  • Received messages are categorized as Payments, Acknowledgements, Responses and Reports. Payments are audited, inserted on the Payments table and optionally printed. Acknowledgements and Responses are matched to their corresponding outbound payment and settled or failed. Reports are forwarded for print processing.
  • Inbound messages and reports are printed on network-attached printers. Printing can be distributed to different printers according to message format.
  • The FTS client provides system control, Fed interface control, message browsing, message printing and table maintenance functions for users subject to application maintained security restrictions.