Wachovia Launches Advanced Internet-Based Financial Supply Chain Management Platform

from cnn.com

Wachovia Bank, N.A., today announced the launch of TradeXchange, a secure, Web-based messaging platform designed to provide greater visibility throughout the financial supply chain from purchase order delivery through invoice settlement.

“As one of the first banks in the world to initiate letters of credit over the Internet, we continue to focus on innovation and technology — particularly relating to the evolution of the financial supply chain,” said Steven Nichols, managing director and head of Global Trade Services in Wachovia’s Global Financial Institutions and Trade Services division. “Buyers, sellers and their banks must navigate an increasingly complex international trade environment, including new challenges created by the movement to open account transactions. TradeXchange will facilitate this process by providing critical supply chain tools in a fully collaborative and real-time environment.”

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