Financial close automation leader bolsters
capabilities for an additional 400 blue-chip clients to drive ROI
for the Office of the CFO
DALLAS, July 25, 2023 /PRNewswire/ -- Trintech, a leading
global provider of cloud-based financial close solutions for the
Office of the CFO, today announced its acquisition of Frontier™
Reconciliation and Accurate™ Reconciliation from Fiserv (NYSE: FI),
a leading global provider of fintech and payments solutions.
Serving customers across multiple verticals including financial
services, telecommunications, retail, insurance and utilities, the
acquired reconciliation business will act as a springboard for
innovation, expanding Trintech's accounting automation
platform.
Through the acquisition, Trintech gains two leading
reconciliation solutions, further enhancing the company's portfolio
of capabilities. Trintech brings over 35 years of global innovation
in automation, reconciliations and financial close processes. The
addition of Frontier Reconciliation and Accurate Reconciliation,
used by more than 400 blue-chip clients across the globe, including
eight of the top ten banks and two of the top three insurance
companies in the United States,
enables these newly acquired clients to benefit from complementary
product offerings and differentiated solutions across key U.S. and
international markets. Fiserv will continue to deliver solutions
and services to many of these clients.
"In this era of intense digital transformation, accounting
automation, reconciliations and financial close represent a
significant market opportunity. This acquisition positions Trintech
to provide even more compelling financial close capabilities,
broaden the reach of our partner ecosystem and drive impressive ROI
for our customers," said Darren
Heffernan, CEO of Trintech. "It's also the latest
illustration of our holistic growth strategy – one which places a
dual mandate on rapid expansion into key verticals and the
prioritization of continuous innovation and talent recruitment. We
are thrilled to add this powerful complement to Trintech's
market-leading portfolio."
The acquisition also includes the addition of key employees with
technical expertise supporting these solutions across North America, EMEA and APAC, bringing
Trintech's global headcount to nearly 700. New and existing
customers benefit not only from expanded technical talent and
capabilities but also by gaining access to Trintech's partner
ecosystem of leading technology and service providers.
Additionally, as part of an exclusive referral agreement with
Fiserv, Trintech expands its global presence and capabilities into
new international markets.
"Trintech is well-positioned to guide the Frontier and Accurate
reconciliation business through its next chapter, and we are
confident they will provide excellent service to our clients and
support for their businesses," said Whitney
Stewart Russell, President of Digital Solutions, Fiserv. "We
are excited about the partnership we have built with Trintech and
look forward to serving clients through our future relationship as
a referral partner."
About Trintech
Trintech, a leading global provider of cloud-based, integrated
reconciliation and financial close solutions for Finance &
Accounting departments. From high volume transaction matching, to
automating and managing balance sheet reconciliations, intercompany
accounting, journal entries, close management tasks, to governance,
risk and compliance – Trintech's portfolio of financial solutions,
including its Cadency® Platform (for large
enterprises) and Adra® Suite (for mid-market
organizations), help manage all aspects of the reconciliation and
financial close processes. Trintech's excellence in both innovation
and client support have been recognized with a variety of awards
over the years including most recently "Easiest to Do Business
With" and "Fastest Implementation" in G2's Fall 2022 Report. Over
4,200 clients worldwide – including the majority of the Fortune 100
– rely on Trintech's solutions to enable their F&A operation to
become a strategic partner to the business by optimizing data,
controlling risk, driving efficiencies, and providing strategic
insights.
Headquartered in Plano, Texas,
Trintech has offices located across the
United States, United
Kingdom, Australia,
Singapore, France, Germany, Ireland, the
Netherlands, and the Nordics, as well as strategic partners
in South Africa, Latin America, and the Asia Pacific. To learn more about Trintech,
visit www.trintech.com or connect with us on LinkedIn, Facebook,
Twitter and Instagram.
About Fiserv
Fiserv, Inc. (NYSE: FI) aspires to move money and information in
a way that moves the world. As a global leader in payments and
financial technology, the company helps clients achieve
best-in-class results through a commitment to innovation and
excellence in areas including account processing and digital
banking solutions; card issuer processing and network services;
payments; e-commerce; merchant acquiring and processing; and the
Clover® cloud-based point-of-sale and business management platform.
Fiserv is a member of the S&P 500® Index and one of
Fortune® World's Most Admired Companies™. Visit fiserv.com
and follow on social media for more information and the latest
company news.
Media Contact:
Kelli
Shoevlin
Director, Global Corporate Marketing & Communications
kelli.shoevlin@trintech.com
Media Contact:
Britt
Zarling
SVP, Corporate Communications
Britt.Zarling@Fiserv.com
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