DUBLIN, Ireland and DALLAS, Sept. 22, 2003 (PRIMEZONE) -- Trintech Group Plc (Nasdaq:TTPA) (Prime Standard: TTP), a leading provider of transaction management and payment infrastructure solutions, today announced its upcoming release of a new platform for complete Payment Lifecycle Management (PLM). The web-based platform will give high-volume payment and disbursement issuers in financial services, insurance, healthcare and other industries increased protection from fraud, access to up-to-date payment information throughout the organization to improve customer service, and management tools that streamline their financial reporting to ensure accuracy of audits and compliance with unclaimed property laws.
Trintech's new platform, now being implemented at a large financial institution, manages the entire payment lifecycle, from issue through payment approval or escheatment to state treasury departments. The platform includes fully-integrated reconciliation, workflow and exception management, and unclaimed property management capabilities. It enables companies to define flexible business rules to manage any type of payment instrument including insurance claim payments, disbursed checks, payroll checks, stock dividends, and invoices.
Unlike mainframe technology, Trintech's web-based platform easily interfaces with financial institutions and payment issuing and receiving systems including payroll, accounts payable, accounts receivable, general ledger and other systems for more flexibility and significantly lower operational costs. The platform also provides real-time status visibility and payment control to customer service, accounts payable, accounts receivable and other departments to enable companies to deliver higher-quality service to customers for their payment inquiries.
"Trintech's new web based payment platform enables easier integration and lower costs than out-dated mainframe technology that provides limited functionality at a higher cost of ownership," said Randy Jesberg, President of Trintech's Funds Management Division. "Trintech is focused on providing open, industry-leading and cost-effective solutions. Our web-enabled Payment Lifecycle Management platform provides greater functionality at a lower cost of ownership. Our vision and 20 years of experience in funds management make us the right choice for corporations that require full management of their inflow and outflow payment processing."
About Trintech FMS
Trintech Funds Management Systems (FMS), a division of Trintech Group, provides comprehensive, industry-leading solutions that optimize enterprise funds management and payment lifecycle management, including the ReconNET reconciliation product suite and the ReconNET Bank Fee Analysis system. Trintech's FMS solutions are optimizing performance in more than 300 leading companies in retail, hospitality, food service, insurance, banking, government and other industries, including YUM! Brands Restaurants, Foot Locker, Radio Shack, 7-Eleven, Verizon Wireless, Kroger, Regal Entertainment, Budget Rent A Car, Wendy's, Farmer's Insurance Group, and the University of Missouri. Trintech FMS is located in Dallas, Texas, and can be contacted at 972-701-9802. www.reconnet.com
About Trintech
Trintech is a leading provider of transaction management and payment infrastructure solutions to financial institutions, payment processors, enterprise retailers and network operators globally. Built on over 15 years of experience, Trintech's solutions manage each area of the payment transaction cycle from authentication, authorization, settlement, dispute resolution and reconciliation -- enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. Trintech can be contacted in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: +353 1 2074000), in the US at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel: +1 972 701 9802), and in the UK at 186-192 Darkes Lane, Potters Bar, Hertfordshire, EN6 1AF (Tel: +44 (0) 1707 827000). www.trintech.com
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