OTCnet News and Updates
Coming Soon: Release 4.9
On June 15th, 2024, OTCnet will be updated to Release 4.9. The release introduces User Provisioning and Batch Management updates and security and operational enhancements. See the Release Notes for further details.
OTCnet Training
Have you checked out OTCnet’s Training Resources? OTCnet’s Training Site offers User Guides, step-by-step Printable Job Aids, and training tutorials for key OTCnet user roles to help agencies, financial institutions, and the Federal Reserve Bank with a wide range of topics and user tasks. These topics include support with Deposit Processing, Card Processing, Check Capture and Processing, OTCnet Local Bridge (OLB), and Security Administration. Whether you need a video tutorial on the deposit process or a detailed manual for setting up the OLB, our Training Resources offer user-friendly guidance to onboarding, OTCnet updates, and current training opportunities/offerings.
User Provisioning with Release 4.8
Get an inside look at OTCnet Release 4.8 with the recorded webinar and information presented at the User Provisioning for OTCnet Release 4.8 webinar series. Watch a dynamic review of Release 4.8 which includes application enhancements and other changes for OTCnet users, and important information about Fiscal Service’s 25-by-25 Initiative.
2024 OTCnet User Recertification
Treasury FISMA reporting requires an annual review and recertification of OTCnet users to ensure all accounts are still required and have the proper access. The deadline for finishing the 2024 Annual User Recertification for OTCnet is Friday, May 31, 2024. Accounts that are not verified during the recertification period in the SailPoint Recertification Tool (SRT) are subject to deletion. If not already finished, please review your OTCnet user list in the SRT. If you have any questions or concerns, please contact OTC Information Security’s Recertification Team.
Moving from Paper Collections to Electronic Collections
The U.S. Treasury is strongly recommending agencies to move away from collecting cash and checks and move to electronic solutions (i.e. Pay.Gov, Online Bill Payment, ACH Credit/Debit) for collections. When you are working on transitioning to an electronic solution, please use Mobile or OTCnet Check Capture to electronically scan checks rather than depositing at a TGA bank. The OTCnet team’s goal is to cut paper deposit volume by 25% by the end of the fiscal year 2025.
Throughout 2024, Fiscal Service will work with agencies to start reporting individual currency and check denominations on each new TGA deposit voucher. This new process will be communicated to your agency Accounting Specialists and Deposit Processing Users. Most agencies using Deposit Processing have already started reporting denominations for each new deposit voucher. If your agency has not been contacted about the updates needed to report deposit denominations, your agency will be part of the July 1, 2024 updates. More information will be sent out in the coming weeks.
For any help or questions during the transition, please contact your Agency Relationship Manager to discuss your agency’s electronic collections options.