DALLAS, Texas and DUBLIN, Ireland, Aug. 13, 2003 (PRIMEZONE) -- Trintech Group Plc (Nasdaq:TTPA) (Prime Standard: TTP), a leading provider of transaction management and payment infrastructure solutions, today announced the release of its web-enabled ReconNET Bank Fee Analysis 6.6 system. The updated solution helps companies significantly reduce bank fees by detecting and recovering fee overcharges, as well as providing detailed analysis for optimizing banking processes and services. The new release includes enhancements that provide comparisons by bank as well as detailed trend analyses.
The ReconNET Bank Fee Analysis system enables corporate finance departments to automatically compare fees for banking services and transactions to contracted or negotiated rates through an intuitive web interface. In addition to verifying fee prices, the system verifies item quantities in monthly account analysis statement against actual daily bank activity. The system also includes an integrated research module which helps automate the reporting and tracking of detected overcharges for faster refunds from banks.
"The new enhancements make ReconNET Bank Fee Analysis even more valuable, more comprehensive, and easier to use," said Randy Jesberg, President of Trintech's Funds Management Division. "Bank fees are a significant business cost, and our customers are seeing dramatic savings in those costs with this system. Within months, several of our customers discovered errors that added up to tens of thousands of dollars, and gained critical information that allowed them to reduce their annual fees by hundreds of thousands of dollars just by changing the way they bank."
Enhancements in the new release of ReconNET Bank Fee Analysis 6.6 expand the system's fee analysis capabilities. Fees can be analyzed by bank, account, and service at any level of detail, which can uncover potential fee savings through account consolidation, and the use of lower-cost services, account types or banks. New features allow side-by-side comparisons of fees charged for services by bank or account for any month or over time. Trends and differences in pricing for identical services can be quickly compared to enable companies to negotiate standard pricing and optimize use of their accounts and bank services.
About Trintech FMS
Trintech Funds Management Systems (FMS), a division of Trintech Group, provides industry-leading solutions that optimize enterprise funds management and automate account reconciliation, research and analysis, including the ReconNET Bank Fee Analysis system and the ReconNET account reconciliation product family. 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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