This article reviews the Wire Manager Workflow and provides some best practices for your institution.
Wire Manager Workflow
The following is an overview of the workflow for managing wires. We recommend your staff check Narmi Command daily.
The user submits a wire transfer in Narmi Banking.
Your staff logs into Narmi Command and selects Transactions > Wire manager.
If the wire transfer is flagged because it triggered risk rules established by your institution, the transaction appears in the Review tab. It is your institution's responsibility to review the wires in Review. None of these transactions will take place until you take action. Your staff should review each transaction on the Review tab at least once daily, preferably multiple times per day, to reject any suspect transactions and manually approve those that pass vetting. Failure to review and approve/reject these transactions will cause delays and a negative end-user experience.
Narmi delivers Fedwire files to your institution's SFTP server every two minutes since wire transfers are known for immediate fund availability. No action is required by your staff to process transactions in the other tabs in Wire Manager (Processed, Rejected, or Canceled).
For instructions on approving or rejecting wires, go to Use Wire Manager for Review.
Once approved, the transaction will be included in the Fedwire file sent to your SFTP server every two minutes.
Once Narmi sends the Fedwire file to your institution's SFTP, the wire status changes to "Processed."
Note: This is the last step with Narmi’s involvement. If an end user sees the wire’s status as “processed” in Narmi Banking, but the wire itself did not take place (for example, no money moved), that would indicate that something went wrong on your institution's side after it went to the SFTP. Your institution may need to whitelist the Narmi IP addresses on your SFTP server. UAT and Production requests can originate from34.203.54.204,44.209.24.210,52.43.143.206, and44.236.12.1.
Institution Settings for Wires
Wires can be turned on and off by banking segment or made available to all customers or members within your institution.
Your institution can control certain settings for wire transfers. Go to Institution Settings for Wires for more information.