Statements
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A Message From Our Team
Happy October! 🎃 Fall into our latest batch of updates designed to make managing your financial institution even smoother. This month, we're excited to highlight new features for the Banno Support app case queue, seamless browser-based key generation for developers, the launch of our new Origination Pilot & Beta Hub for lending and deposits, and so much more. Dive in below to see what's new!
Jack Henry Wires
The team behind Jack Henry Wires is diligently working towards providing even more Wire Transfer capabilities for your financial institution and your business users! Below, our beta testers and curious Digital customers will find some insight and specifics on the Direct Line Wires and iWires (also referred to as International Wires) capabilities that will hit the market sooner than you may expect.
Upcoming Features
Direct Line Wires provides users on Jack Henry Platform with a direct, real-time solution for transmitting wire transfers and receiving acknowledgements of the transmittal. This provides a seamless, less manually intensive capability for ensuring that wire transfers are processed more efficiently and expeditiously.
iWires gives users on Jack Henry Wires the ability to send wire transfers to international financial institutions. This feature will be available by contract as a powerful add-on for Jack Henry Wires.
Enhanced Approvals allows for increased flexibility in configuring the number of approvals required for a wire transfer, based on the transfer amount. Watch for this enhancement to be available with Jack Henry Wires soon!
Continued ISO 20022 support
Jack Henry Wires continues to deliver on the ISO 20022 message types that are supported. Here are a few the Wire Transfer Nonvalue Messages that we’re working to implement soon:
- Investigation Requests: Referred to as camt.111, this request type provides the capability to respond to an investigation request (camt.110) message.
- Return Requests: Referred to as camt.056, this request type provides the capability to request the return of either a customer credit transfer (pacs.008) or a financial institution credit transfer (pacs.009).
- Return Responses: Referred to as camt.029, this request type provides the capability to inform that the return request has been rejected by the Fedwire Funds Service for failing the Fedwire Funds Service business validation or contains the response of the Fedwire Funds participant that received the return request that the Fedwire Funds Service delivers.
Did You Know?
Still considering whether Jack Henry Wires will make a difference for your business users and financial institution personnel? Here are just a couple benefits we think you’ll find compelling:
- Jack Henry Wires provides the ability to create and receive Drawdown Requests and Responses! These are referred to as pain.013 and pain.014 non-value messages (Wire Transfers).
- Jack Henry Wires provides the ability to define Repetitive Wire Transfers, which results in efficiencies and consistencies for the creation of Wire Transfers.
Stay tuned to the monthly Statement for further news on Jack Henry Wires and the features and functionality described above. Now that we’re in the thick of closed beta testing, we will be including updates regularly to keep everyone in the loop as we count down to launch!