News in Brief

FedCash E-Manifest Service Delivering Benefits

The Federal Reserve has started a publicity campaign for its FedCash® E-Manifest Service. The new system is digitising a hitherto manual system for matching paper manifests for deposits and orders at Federal Reserve docks with a technology based on GSI US standards that enables scanning and the electronic exchange of data in real time.

FedCash states the benefits of the service as:

• Improved resilience through greater visibility of package contents and data sharing capabilities

• Accelerated dock exchanges using the E-Manifest API to validate data exchanges and eliminate paper-based processes

• More efficient reconciliation by leveraging electronic data

• ‘Going green’ by reducing dependency on paper deposit tickets and manifests

• Future automation opportunities, such as expedited reporting and leveraging data for enhanced efficiencies.