Looks like corporate treasuries can dump that file of various password/ID combos, and empty the drawer full of USB authentication tokens. Wachovia has announced it has upgraded to single-sign on capabilities for its global treasury management portal, Wachovia Connection. Log-in once, and clients have immediate access to 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, in a statement. "Single access with an all encompassing, common online experience helps our clients optimize value." According to Wachovia, the move is helping to break down internal product silos that most banks have traditionally brought to front-end client access systems. Wachovia Treasury Services is the nation's third-largest cash management provider.
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The FDIC Board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
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The state's Comptroller of Public Accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
April 24