AFS Direct Merchant brings the convenience and cost savings of distributed image capture directly to Wachovia’s corporate and correspondent banking clients. With a desktop check scanner and secure Internet access, Wachovias clients will deploy AFS Direct Merchant to capture images of payments at their business locations in a back-office type environment. These images are electronically delivered to Wachovia for posting, and subsequent clearing through either bank-to-bank image exchange, or substitute checks. With geographic boundaries virtually eliminated, AFS Direct Merchant enables corporate and correspondent banking clients to consolidate their payments with a single preferred institution and to gain all the full financial advantages of local processing – through improved cash flow.
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