Wire Processing

Braid's Wire Processing module facilitates the handling of both incoming and outgoing wire transactions. It allows users to upload wire files, monitor transaction outcomes, and review processing statuses. This guide covers how to use the module’s file upload and transaction status features, as well as Braid’s connectivity models for wire processing.

Getting Started

To access the Wire Processing module:

1. Log in to Braid’s Dashboard.
2. Navigate to Wire Processing via the left-hand menu.
3. Select the Processing tab to upload wire files or the Status tab to monitor transaction statuses.

Wire File Upload

The Processing page is designed for uploading wire files, enabling users to manage both receiving and originating transactions.

How to Upload a Wire File

1. Choose File Type:
   • Receiving: Select this option if the wire file contains incoming wire transactions.
   • Originating: Select this option for files containing outgoing wire transactions.
2. Choose File:
   • Click Choose File to open a file selection dialog and select the wire file from your local system.
3. Upload Wire File:
   • Once the correct file is chosen, click Upload Wire File to start processing.
   • A confirmation message will appear once the file is successfully uploaded.

Wire Transaction Status

The Status page provides an at-a-glance overview of wire file processing outcomes. It displays a table that tracks the processing status of each uploaded file, allowing users to monitor errors, pending transactions, and more.

Understanding the Status Table

The Status table includes the following columns:

• File Name: Identifies each uploaded wire file with a unique name (e.g., fedwire1139611918738012867.txt).
• Created Date: Displays the date and time when the wire file was processed.
• Error Transactions: Number of transactions within the file that encountered errors.
• Pending Transactions: Transactions that are awaiting further processing.
• Posted Transactions: Transactions that have been successfully posted.
• Rejected Transactions: Transactions that were not accepted for processing due to issues such as validation errors.
• Total Transactions: The overall count of transactions contained in the wire file.

Using the Status Page

• Filter Options: Use the Filters button to narrow results by processing date, file name, or transaction status.
• Search: Use the search bar to quickly find a specific wire file by entering a file name or date.
• Columns: The Columns button lets users customize which columns are displayed in the table.
• Density Settings: Adjust the Density settings to modify the visual layout (Compact, Normal, Comfortable).

Braid's Connectivity Models for Wire Processing

Braid supports different connectivity models to facilitate efficient wire processing:

1. Fedline Advantage

   • Overview: Fedline Advantage is a secure, web-based access channel provided by the Federal Reserve. It supports manual interactions for wire processing, including file uploads and status checks.
   • Features:
     • Allows for the manual upload of wire files.
     • Provides secure access to the Federal Reserve's wire transfer services.
     • Ideal for smaller financial institutions with moderate transaction volumes.
   • Use Case: Users manually upload wire files for processing using Braid’s dashboard interface.

2. Fedline Direct (Coming Soon)

   • Overview: Fedline Direct is an advanced, server-to-server communication channel designed for high-volume wire processing. It offers a real-time connection to the Federal Reserve’s network.
   • Features:
     • Enables automated file transfers and processing.
     • Supports real-time communication, which reduces latency and improves processing efficiency.
     • Designed for larger financial institutions or those with substantial wire transaction volumes.
   • Use Case: Once implemented, Fedline Direct will automate the wire file upload and status retrieval process, enhancing processing speed and reducing manual intervention.

Tips for Effective Use

• Check the Status Table regularly to ensure that all wire transactions are being processed smoothly.
• Filter by 'Error Transactions' or 'Rejected Transactions' to quickly identify and troubleshoot issues.
• Use the Fedline Advantage connectivity model for manual uploads until Fedline Direct becomes available, at which point automation can be enabled.