ATLANTA - FleetBoston Financial Corp. has adopted the automated clearing house payment module of S1 Corp.'s corporate software package.
FleetBoston's corporate clients can execute online payment transactions, including direct deposits, direct debits, vendor payments, internal transfers, and federal and state tax payments.
FleetBoston plans to use S1's corporate banking software to deploy a single Web platform for all its cash management services. The software has a global payment module that supports Fed Wire, Society for Worldwide Interbank Financial Telecommunication, and book transfers.
The software deployment is part of FleetBoston's eCatalyst unit, which covers all of Fleet's e-commerce initiatives.