S1 Corp. has announced the incorporation of processing capabilities in its S1 Corporate Banking software for the coming IAT automated clearing house code.
The Atlanta vendor, a maker of Internet banking software and a suite of customer-contact applications, said Tuesday that it was responding to requests from Nacha, the electronic payments association, that banks be given adequate time to install and test the software.
Nacha announced in July that it was delaying until September 2009 the effective date for the IAT code used in international ACH transactions. It abandoned the previous effective date, in March 2009, because of the complexity of interfacing ACH processing software with anti-money-laundering systems, as federal law requires.
S1 Corporate Banking, which is a component of the company's S1 Enterprise suite, supports several domestic and international payment modes, including wire transfers, account transfers, and ACH and localized payments, for more than 20 countries.