Fedwire & Foreign Exchange

Global Funds Exchange (GFX)
GFX Foreign Exchange (GFX2)
Global Securities System (GSS)space

Overview | Security | Benefits | GFXN | Frequently Asked Questions

GFX Overview

BankServ's Global Funds Exchange (GFX) software automates the domestic wire transfer process, allowing banks of any size to offer the same kind of comprehensive services that were, until now, only available to large banks that could afford a sizeable investment in equipment, software and personnel.

The Microsoft Windows-based GFX system takes care of all the steps in a wire transfer in one application, and includes time-saving features such as:

dot Real-time connectivity to the Federal Reserve Bank's Fedwire network

dot Automatically checking of customer and Fed account balances before a transfer is made

dot Notifying recipient(s) of a payment

dot Reconciling transactions in your bank's host accounting software

dot Instantly screening wires to minimize risk and comply with government regulations, such as OFAC

Additional features also let you handle book-entry securities and convert dollars into foreign currencies in just a few easy steps.

BankServ offers two options for Fedwire processing, GFX and GFXN:

dot Both implementation options utilize the same Global Funds Exchange (GFX) payment application. GFX is the software suite that can be installed in your institution’s data center facilities.

Global Funds Exchange Network (GFXN) is the service bureau model, in which the GFX application and all the infrastructure needed to carry out wire transfers, from hardware to software to Federal Reserve connectivity, is managed by BankServ in our own secure data center facilities.

As a Federal Reserve Bank-approved computer interface vendor, BankServ will work with you to determine the most appropriate system to meet your financial institutions's needs, no matter its size or its processing environment. Let our expertise in electronic banking streamline your operations and give your bank a competitive edge in wire payments.

Review security information or contact sales to learn more.