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NATIONSBANK INTRODUCES NEW COMPREHENSIVE PAYABLES PRODUCT

 Dec. 14 /PRNewswire/ -- NationsBank Corporation (NYSE: NB) has introduced a new comprehensive payables product that will allow corporate and commercial cash management customers to streamline their accounts payables process, reduce costs and improve fraud control.
 With this product, a customer can send NationsBank an electronic file containing all the payments it wants to make with instructions on how the payment should be made -- through the Automated Clearing House (ACH), wire transfer or paper check. NationsBank will then take the file, process each item and forward the remittance detail to the payee. By sending a single file to NationsBank, customers are in a position to migrate from checks to electronic payments without substantial up-front investments.
 NationsBank will process all wire transfer and ACH payments itself. Check production will be handled by First Data Corporation (FDC), a leader in high-volume transaction processing. As an added feature, FDC will be able to produce checks using the companies' own logos and official signatures.
 Customers can even specify when a payment is to be made -- either upon receipt of the file or stored until a specified payment date. Customers will also benefit from added security and fraud control since NationsBank provides full account reconciliation of the checks it writes for customers using a fraud control service called Positive Pay.
 "The comprehensive payables product will allow customers who currently maintain both paper and electronic payables systems to outsource their entire accounts payable function to NationsBank, thus eliminating their need for dual payment streams," said NationsBank Depository Services Group Executive Connie Beck. "By combining the electronic payment capabilities of NationsBank with the production and mailing capabilities of FDC, NationsBank is able to offer customers real economies of scale and high-volume discounts they wouldn't realize on their own."
 As of Oct. 1, 1993, NationsBank had assets of approximately $156 billion, making it the third largest banking company in the United States.
 -0- 12/14/93
 /CONTACT: Tim Lubinsky of NationsBank, 704-386-4340/
 (NB)


CO: NationsBank Corporation ST: North Carolina IN: FIN SU: PDT

CM -- CH003 -- 3579 12/14/93 10:39 EST
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Publication:PR Newswire
Date:Dec 14, 1993
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