[Treasury-News] Oregon State Treasury | EFT BSR Project Update and Upcoming Impacts

[OST NEWSLISTS]

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Project Overview
[cid:image004.png at 01D9AB38.ECE81010]Treasury's Electronic Funds Transfer (EFT) Business Systems Renewal (BSR) project is transforming both how Treasury internally operates ACH, wire transfer, and book transfer services and how we deliver those services to our customers. Treasury has partnered with KeyBank to deliver ACH and wire transfer services while internally developing a solution to deliver book transfer services. The new service delivery models are streamlining processing while reducing risk and enhancing service to our customers.

Phase 1 and 2 Activities
In Phase 1 of the project, Treasury transitioned domestic wire origination services to KeyBank in January 2020. As Phase 2 wraps up, all Treasury customers have transitioned to KeyBank for ACH services and received wire transfers. This means all ACH origination now flows through KeyBank while customers are working to redirect received ACH transactions to KeyBank by sharing updated payment instructions with payors. Treasury will continue to support legacy processes for received ACH transactions until later this year.

Phase 3 Activities
Phase 3 of the project will see the replacement of STAN Online to support book transfer services. Treasury recently began development of the new system and will soon reach out to customers currently using STAN Online to identify contacts for this final phase of the project.

Upcoming Impacts

  *   As of July 1, Treasury will resume billing customers for all ACH activity (charges for July activity will post to your Treasury account at August month-end)
  *   Operational support of ACH activities will soon transition from project staff to Banking Operations-watch for updated contact information and instructions plus new tools and support materials
  *   Treasury customers should continue to share updated payment instructions with payors to redirect received ACH transactions to KeyBank before Treasury discontinues support of legacy processes by the end of 2023 (we will soon collaborate with individual customers about specific timing and transition steps)

Have Questions?
Contact project staff at EFT.BSR at ost.state.or.us<mailto:EFT.BSR at ost.state.or.us> with any questions or concerns about the project. Your input helps to ensure the success of the project, and we appreciate your continued engagement.
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867 Hawthorne Ave SE
Salem, OR 97301-5241

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