20 August 2017
visit www.avoka.com

Wachovia licenses Centerprise risk system; teams with Nova for e-cheque service

03 November 2003  |  5342 views  |  0 Wachovia licenses Centerprise risk system; teams with Nova for e-cheque service

Wachovia is implementing Centerprise Services' operational risk software, Enterprise OpRiskCenter, across the organisation.

Enterprise OpRiskCenter will be deployed across all of Wachovia's lines of business to address all aspects of operational risk, including loss events, risk assessment, key indicators, issue- and action-plan management and risk profiles.

New York-based Centerprise says the software will enable the bank to capture and manage operational risk data and support corporate governance initiatives.

Yousef Valine, head of operational risk management at Wachovia, says: "What attracted us to Centerprise was their integrated, well-architected solution that would scale and accommodate an enterprise-wide deployment."

Separately, Wachovia has teamed with payment processing firm Nova Information Systems to introduce an electronic cheque conversion at the point-of-sale (POS) service for its Treasury Services customers.

The bank says the service enables merchants to convert paper cheque payments to electronic transactions at the point of sale.

The service combines front-end, POS hardware with back-end transaction reporting and electronically captures the cheque image, serial number and payment amount.

Additionally, the service include reading devices which screen cheques against a nationwide fraud prevention database.

Nova says electronic cheque conversion allows Wachovia's customers to accept cheques with the same convenience and confidence they have come to expect with other electronic payment types.

Michael Daley, senior vice president and manager of Wachovia's Treasury Services product solutions, adds that the service allows companies of all sizes with "to improve collection efficiency, help reduce fraud and minimise deposit expenses."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Wachovia in fraud doublecheck with Mitek's Payee Match

Wachovia in fraud doublecheck with Mitek's Payee Match

31 October 2003  |  4330 views  |  0 comments
Wachovia and Key Bank join FXall

Wachovia and Key Bank join FXall

02 October 2003  |  5129 views  |  0 comments
Wachovia renews Yodlee aggregation contract

Wachovia renews Yodlee aggregation contract

23 September 2003  |  5214 views  |  0 comments
Death of the cheque is imminent

Death of the cheque is imminent

19 September 2003  |  7133 views  |  0 comments
Wachovia signs with Visa and NYCE; drops Star network

Wachovia signs with Visa and NYCE; drops Star network

29 August 2003  |  4693 views  |  0 comments
Wachovia selects BEA WebLogic for online FX application

Wachovia selects BEA WebLogic for online FX application

19 August 2003  |  4437 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comdownload the paper nowvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
9294 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7972 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
7465 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
6901 views 0 | 1 tweets | 1 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
6589 views comments | 14 tweets | 12 linkedin

Featured job

Find your next job