Wachovia Selects Advanced Financial Solutions for Remote Deposit Capture Solutions

Market Wire, November, 2004

Advanced Financial Solutions Inc. (AFS), announced today that Wachovia Corp. (NYSE: WB), the nation's fourth largest bank holding company, has selected AFS Direct Merchant for its remote deposit capture solution. 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, Wachovia's 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.

"Wachovia becomes one of the first financial institutions to take full advantage of the benefits of Check 21 through its ability to move image capture out to the transaction source," said Gary Nelson, president of AFS. "Distributed capture will provide Wachovia and their clients with lower payment processing costs, by eliminating the need to physically transport payments to the bank, reducing overall bank fees, and improved cash flow through earlier deposits."

"AFS Direct Merchant provides Wachovia with a solid solution to support the receipt and processing of image-based deposits and payments from corporate and correspondent banking clients," said Michael Daley, senior vice president and manager of Wachovia's Treasury Services Product Solutions. "We are pleased to be able to provide our clients with a low cost and effective solution for image-based payments processing. This technology is an integral part of Treasury Services' global strategy around Check 21."

About Wachovia

Wachovia Corporation (NYSE: WB) is one of the largest providers of financial services to retail, brokerage and corporate clients, with retail operations from Connecticut to Florida and retail brokerage operations nationwide. Wachovia has assets of $436.7 billion, market capitalization of $61.4 billion and stockholders' equity of $33.9 billion at September 30, 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 12 million client relationships (including households and businesses), primarily in 11 states and Washington D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through www.Wachovia.com.

About Advanced Financial Solutions

Founded in 1992, Advanced Financial Solutions Inc. (AFS), a Metavante company, has delivered high-quality image-based and conventional check processing solutions to the financial services industry. AFS was one of the first companies to offer image and item processing technology based on the Microsoft® Windows .NET operating environment. All AFS item-imaging solutions are designed from the ground up with the functionality that banks and remittance processors need for operating in a high-capacity, transaction-based environment. Based in Oklahoma City, AFS became a Metavante company on July 1, 2004. Metavante is the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI). For more information, see www.afsimage.com.

Contact: Sam Kim Advanced Financial Solutions 678-533-4861 sam.kim@metavante.com Leah Dering Wachovia 704-383-0551 leah.dering@wachovia.com AFS 1200 Sovereign Row Oklahoma City, OK 73108 Tel: 1.405.787.1800 Fax: 1.405.787.8833 www.afsimage.com