Wachovia and Selkirk Financial Technologies Launch AssistantTreasurer.com
AssistantTreasurer.com is an Internet-based treasury management service that allows companies to outsource their treasury operations. Wachovia is currently piloting the service with selected customers and actively seeking additional users. It is designed to provide companies an efficient and inexpensive way to improve cash and treasury management without incurring unnecessary risks for implementation, training or workflow. Powering AssistantTreasurer.com is Selkirk’s treasury technology suite of products, which has been previously available only to large organizations. It will automate day-to-day cash operations, treasury dealing and administration, multilateral netting, foreign exchange, hedging and settlement, cash forecast consolidation and planning, payments, collections and lockbox services. Customers can access and create global reports and query, authorize and distribute consolidated treasury data in a secure and real-time environment. AssistantTreasurer.com offers full treasury advisory and strategic services covering capital markets, euro capital markets, assessment of proposed transactions, management of relationships with counterparty banks, as well as development of policies and procedures. AssistantTreasurer.com also provides disaster recovery and redundancy capabilities.