Wells Fargo has implemented Corporate Banking ACH solution from S1 Corporation, a provider of payments and financial services software solutions.
The S1 solution will be deployed as a strategic component of Wells Fargo’s Commercial Electronic Office (CEO) portal.
By using this solution, Wells Fargo will be able to enhance its product offering by speeding time-to-market for state and federal tax format changes, offering enhanced payment reporting and delivering new beneficiary management tools.
Other features of the S1 ACH solution include initiation of multiple ACH payments types including tax payments, payroll, international, and direct debits, payment import, export, upload, ACH reversal, and same-day settlement.
Keith Theisen, executive vice president and director of treasury management product team at Wells Fargo, said: Banks need to take advantage of the desire by people to make payments in new ways as they move away from using checks. S1 Corporate Banking allows Wells Fargo to meet the complex payment needs of its customers.
S1 has been a great partner to Wells Fargo for many years. Our past successful relationship and their commitment to innovation were the primary reasons we chose to partner with S1 on this new generation of our CEO Portal. S1’s customer-focused practices parallel Wells Fargo’s own commitment to provide our customers with unsurpassed services.