Fed Pilots Two New Accounting and Billing Applications

This summer, the Fed will pilot two new web-based applications that have been designed to give financial institutions (FIs) better access to their accounting and billing information. These new applications also will allow FIs the capability of "drilling down" from basic, summary-level information to more detailed information on accounting transactions and service charges.

The Account Management Information application (AMI) will offer customers a variety of reports and inquiry services, such as access to viewing real-time accounting transactions. The Billing Data Access System (DASy) will give FIs online access to their monthly billing statements along with the ability to download billing data for their internal use.

The pilot program will begin in July and end in late October. Pilot participants will represent more than 48 FIs nationwide. At the conclusion of the testing period, participants will provide feedback on the performance, functionality and presentation of data for each application. Production for AMI and DASy will begin in January 2002.

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