Financial close automation leader bolsters capabilities of 400 other Tier 1 clients to drive ROI for CFO Office
DALLAS, July 26, 2023 /PRNewswire/ — Trintech, a leading global provider of cloud-based financial close solutions for the Office of the CFO, today announced the acquisition of Frontier™ Reconciliation and Accurate™ Reconciliation from Fiserv (NYSE: FI), a leading global provider of financial technology and payment solutions. The acquired reconciliation business will serve as a springboard for innovation, expanding Trintech’s accounting automation platform, which serves clients in multiple verticals, including financial services, telecommunications, retail, insurance and utilities.
Through the acquisition, Trintech gains two leading reconciliation solutions, further enhancing the company’s portfolio of capabilities. Trintech brings more than 35 years of global innovation in automation, reconciliation, and financial close processes. The addition of Frontier Reconciliation and Accurate Reconciliation, which are used by more than 400 top-tier clients worldwide, including eight of the top ten banks and two of the top three insurance companies in the United States, allows these newly acquired clients to benefit from complementary product offerings and differentiated solutions in key US and international markets. Fiserv will continue to provide solutions and services to many of these customers.
“In this era of intense digital transformation, accounting automation, reconciliations and financial close represent a significant market opportunity. This acquisition positions Trintech to deliver even more compelling financial close capabilities, broaden the reach of our ecosystem of partners and drive impressive ROI for our customers,” said Darren Heffernan, CEO of Trintech. “It is also the latest example of our holistic growth strategy, which establishes a dual mandate on rapid expansion in key verticals and prioritizing continuous innovation and talent recruitment. We are delighted to add this powerful complement to the leading portfolio in the Trintech market”.
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 workforce to nearly 700. New and existing customers benefit not only from the talent and expanded technical capabilities, but also to gain access to Trintech’s partner ecosystem of leading technology and service providers. Additionally, as part of an exclusive referral agreement with Fiserv, Trintech is expanding its global presence and capabilities into new international markets.
“Trintech is well positioned to guide Frontier and Accurate’s reconciliation business through its next chapter, and we are confident that it will provide excellent service to our clients and support for their businesses,” said Whitney Stewart Russell, president of digital solutions. from Fiserv. “We are excited about the partnership we have built with Trintech and look forward to serving customers through our future relationship as a reference partner.”
About Trintech
Trintech, a leading global provider of integrated cloud-based financial close and reconciliation solutions for Finance and Accounting departments. From high-volume transaction matching, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, closing management tasks, governance, risk and compliance: Trintech’s portfolio of financial solutions, including its Cadency platform ® (for large companies) and Adra ® Suite (for mid-market organizations), helps manage all aspects of the reconciliation and financial close processes. Trintech’s excellence in both innovation and customer service has been recognized with a variety of awards over the years, including the most recent “Easiest to Do Business” and “Fastest Implementation” in the Fall Report of 2022 of G2. More than 4,200 customers around the world, including the majority of the Fortune 100, trust Trintech solutions to enable their F
Headquartered in Plano, Texas, Trintech has offices in the United States, the United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands, and the Nordic countries, as well as strategic partners in South Africa, Latin America, and Asia. Peaceful. 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; electronic commerce; business acquisition and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S Index
Media Contact: Kelli Shoevlin Director of Global Corporate Marketing
Media Contact: Britt Zarling Vice President of Corporate Communications Britt.Zarling@Fiserv.com
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