Wachovia Cuts Wires, Launches Treasury Outsourcing

November 13, 2000 (PLANSPONSOR.com) - Wachovia has unveiled new enhancements to its Internet-based Wachovia Connection Plus, and now offers interactive wireless access and proactive notification.

Corporate customers can now access real-time account information through Web-enabled digital phones, including the ability to:

  • view, pay, issue or return positive pay exceptions
  • retrieve an intraday position report
  • view, approve or cancel payments initiated from a personal computer

Proactive notification allows financial officers to receive email alerts when positive pay and controlled disbursing first and second presentment data is available, and when company-initiated payments require approval, avoiding the need to keep checking in.


Wachovia and Selkirk Financial Technologies have launched AssistantTreasurer.com, an Internet-based treasury management service that allows companies to outsource their treasury operations. The service is currently in pilot with selected customers – and Wachovia is “actively” seeking additional users.

AssistantTreasurer.com will reportedly automate

  • day-to-day cash operations
  • treasury dealing and administration
  • multilateral netting
  • foreign exchange, hedging and settlement
  • cash forecast consolidation and planning
  • payments, collections and lockbox services

Customers can access and create global reports and query, authorize and distribute consolidated treasury data in a secure and real-time environment.

Organizations benefiting most from AssistantTreasurer.com may include those whose markets are undergoing rapid change, offshore corporations with U.S. subsidiaries and those that have had difficulty in retaining key treasury staff.

– Nevin Adams editors@plansponsor.com