CHICAGO--(BUSINESS WIRE)--The Federal Reserve System’s FedCash® Services today announced broad availability of its new E-Manifest Service to all financial institution customers of the Federal Reserve Banks and their servicing armored carriers. This milestone announcement delivers on the Federal Reserve’s commitment to advancing Cash Visibility and adoption of GS1 Standards for cash supply chain logistics and package tracking.
The E-Manifest Service enables financial institutions and armored carriers that work directly with the Federal Reserve to electronically process currency deposits and orders at Federal Reserve docks. With the E-Manifest Service, armored carriers, on behalf of their financial institution customers, can share and receive electronic information in real-time. The E-Manifest Service replaces the manual process of matching paper manifests for deposits and orders at Federal Reserve docks with a technology that enables scanning and an electronic exchange of data.
“The Federal Reserve is dedicated to bringing greater transparency and efficiency to U.S. cash supply chain logistics,” said Kathleen Young, executive vice president and chief of FedCash Services. “We are encouraged by the strong collaboration with industry partners, including our early adopters, to implement the E-Manifest Service, which is essential to building a resilient and modern cash supply chain that can meet public demand.”
Leveraging modern technologies for currency deposits and orders, the Federal Reserve has successfully piloted the E-Manifest Service and onboarded financial institutions and their servicing armored carriers as early adopters.
In response to industry efforts to modernize the cash supply chain, the FedCash E-Manifest Service supports the movement toward Cash Visibility and provides numerous benefits, including improved resiliency, accelerated dock exchanges, more efficient reconciliation, less dependency on paper and future automation opportunities.
The Federal Reserve encourages armored carriers and financial institutions across the country to adopt the E-Manifest Service, beginning with completing an expression of interest form on FRBservices.org® to learn how to leverage GS1 Standards and implement the E-Manifest Service.
Additional information is available on the Federal Reserve Financial Services website.
About Federal Reserve Financial Services
Federal Reserve Financial Services is an integrated organization within the Federal Reserve that is responsible for managing critical payment and securities services that foster the accessibility, integrity and efficiency of the U.S. economy. Through its relationships with about 10,000 financial institutions nationwide, the Federal Reserve provides equitable access to a system that facilitates more than $5 trillion payments each day. Federal Reserve Financial Services, delivered via a secure FedLine® network, include FedCash Services, FedACH® Services, Check Services, Fedwire® Funds and Securities Services, the National Settlement Service and more. The Federal Reserve also collaborates broadly with payments stakeholders on improvement initiatives (Off-site), to advance the end-to-end speed, security, efficiency of domestic and cross-border payments. This collaboration led to and has informed development of the FedNow® Service, an instant payments infrastructure that launched in July 2023.
