Outsourced Fedwire Processing
Global Funds Exchange Network (GFXN) offers a way to use BankServ's comprehensive GFX wire payments system with minimal up-front investment. As a service bureau solution, the GFX program is hosted in BankServ's data centers, giving banks access to all the automation and features that come with GFX, but without the expenses that come with operating a software system in-house.
With GFXN, clients pay only a minimal license & implementation fee, and charges are on a per-transaction basis. And because BankServ has direct access to the Fedwire network, our data center can act as a portal for our clients.
Free Yourself from IT and Maintenance Headaches
BankServ takes care of the maintenance on all the hardware, software and Federal Reserve Bank connections your bank needs to operate its wire transfer business. More than 70 percent of BankServ's wire transfer clients now use the outsourced GFXN option so our experienced IT staff can keep the system up and running — not theirs.
The redundant construction of BankServ's data centers ensures the security and reliability of our network under even the most extreme conditions. BankServ's main data center is housed in a locked-down facility, and is protected by state-of-the-art firewalls and intrusion detection systems to block attacks against any public-facing machines.
With a backup data center in California mirroring the primary site in Nevada, wire transactions can be recovered and rerouted even in the event of a catastrophic event at one location. GFXN was designed with a redundant frame circuit and ISDN telecommunication lines between the Federal Reserve Bank and both data centers, and between the data centers and the customer site. Because BankServ's backup site replicates data in real time, no transactions should ever be lost due to power outages or other regional disruptions.
All information exchanged over the network is sent via a 128-bit SSL secure connection and encrypted using the Data Encryption Standard (DES) and public-private key cryptographic technology. The Secure Socket Layer (SSL) protocol is also supported for Microsoft Windows users.