Wachovia Launches New Online Banking Platform
New features and enhancements focus on transparency, ease of use and security
November 15, 2005, Charlotte, N.C. – Starting this week, all new online banking customers will be enrolled on a new, state-of-the-art platform, while Wachovia’s 3.2 million active online customers will be converted in waves during the next few months.
Online banking has become one of the safest and most convenient means by which customers manage their money. Wachovia’s online banking site leads the industry in providing customer satisfaction and generating customer loyalty.
"The new platform will continue this leadership by taking customers to a new level of convenience, usability and safety. The platform provides simpler and swifter navigation and seamless integration of various money management functions,” said Lawrence Baxter, head of Wachovia’s eCommerce division. “Our team spent countless hours talking and listening to customers to get their feedback about their online experience at Wachovia. We are confident that the information we gained from those sessions and the user-centered design approach has resulted in a top-of-the-line online banking experience for our customers.”
With the new platform, more accounts are visible to customers, while the ability to transfer money between accounts, set up alerts, view fee detail, view debit card holds, search for information and find help is enhanced. Self-service activities and routine account maintenance, such as updating user profiles, ordering checks and changing addresses, has also become easier.
“The overall presentation to the customer is more comprehensive and integrated with other online applications such as electronic billing and payment, online brokerage and account aggregation,” said Baxter.
Wachovia will continue to offer its popular online products and services, including a full suite of more than 50 different electronic and wireless alerts and the ability to view check images.
“This new platform further enhances the excellence that Wachovia customers have come to expect through Wachovia’s online channel,” said Baxter. “One of the features customers will notice immediately is a more intuitive interface that will allow them to navigate quickly and seamlessly through the site to perform the task they need to complete. All of these features have been combined in the new platform in a way that we believe clearly sets Wachovia apart as the top tier provider of online financial services in the nation.”
Wachovia announced its plan to overhaul the existing online banking and billpay platform nearly 16 months ago in a partnership utilizing products and services from Accenture, CheckFree, Corillian and Microsoft. The development and testing of the platform was conducted jointly by Accenture and Wachovia while the system software was provided by Corillian and Microsoft. Avanade, the joint venture of Accenture and Microsoft, provided systems integration services. CheckFree will continue to provide Wachovia’s customers with ongoing electronic billing and payment service and the CheckFree platform will serve as the basis for a long-term partnership.
In the coming months, Wachovia will continue to add new products and services that customers can use to enhance their online experience including an enhanced message center and the completion of a full suite of e-statements for all customer accounts. Wachovia is also developing and implementing new tools to protect online accounts from fraudulent access.
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with banking operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $532.4 billion, market capitalization of $73.9 billion and stockholders’ equity of $46.8 billion at September 30, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 13 million household and business relationships primarily through 3,138 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 702 offices in 49 states and five Latin American countries. The Corporate and Investment Bank serves clients in selected industries nationwide. Global services are offered through 40 offices around the world. Online banking and brokerage products and services also are available through Wachovia.com.
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- Doug Caldwell
- Wachovia Corporation
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