Wachovia introduces single sign-on for online wholesale services

Wachovia introduces single sign-on for online wholesale services

US banking group Wachovia has introduced a single sign-on capability for its online global treasury management portal, Wachovia Connection, eradicating multiple silos in favour of a common front-end entry point for corporate clients.

The log-in system eliminates the need for multiple IDs and passwords and provides a single entry point for online wholesale services, including cash management, trade services and currency risk management products.

"Integrated access to the spectrum of Wachovia's online services helps clients better understand and manage the interrelationships that drive financial performance," says Laurence Leinbach, senior vice president of Wachovia's treasury services division. "Single access with an all encompassing, common online experience helps our clients optimise value."

Wachovia has also upgraded its online ACH management system, increasing the number of settlement options to simplify reconciliation - a feature the bank says is useful for large companies with high volumes.

Wachovia says smaller businesses will benefit from a function that lets them schedule recurring payments.

The ACH management system creates a centralised repository for payee information, which streamlines the process of updating payment templates. It also includes new security options and controls, as well as audit reporting.

The online offering also includes international ACH and Sepa credit transfer options to simplify cross-border payments.

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