Fed Steps up Plans to Deliver Financial Services via the Web

In response to customer feedback, the Federal Reserve announced that it will accelerate its efforts to develop FedLine® services for the Internet. The decision was made after last year's National Customer Satisfaction Survey, which revealed a need to enhance the delivery of financial services using web-based technology.

FedLine software currently uses a DOS-based operating system. Later this year, however, the Fed will begin transferring current customers to both the new FedLine software designed for the Microsoft Windows NT® Workstation and to FedLine for the Web. FedLine for the Web uses off-the-shelf browser software to access a secure web site that offers FedLine services, such as cash, check imaging, statistical reporting, savings bonds and check adjustments (availability of each service will differ among Fed offices).

Delivering FedLine services through a web environment presents several advantages. Web-based applications are easy to use, secure and convenient—any computer that is loaded with browser software and an Internet connection can access such services. FedLine for the Web also incorporates significantly enhanced features and functions compared with the current software.

Reserve Banks are conducting pilot programs for delivering these web-based services with financial institutions across the country. Look for details on the implementation of FedLine for the Web later this year. For more information, visit the Federal Reserve Financial Services web site, www.frbservices.org, or contact your local FedLine support area.

Subscribe

Keep up with what’s new and noteworthy at the St. Louis Fed. Sign up now to have this free monthly e-newsletter emailed to you.

Subscription Options


Additional Fed Publications

Fed in Print: An index of the economic research conducted by the Fed.