DUBLIN, Ireland and DALLAS, Sept. 29, 2003 (PRIMEZONE) -- Trintech Group Plc (Nasdaq:TTPA) (Prime Standard: TTP), a leading provider of transaction management and payment infrastructure solutions, today announced the availability of its new Statement Delivery service for business access to commercial bank account data. With this new service offering, Trintech provides businesses with timely access to validated financial data that can reduce their exposure to fraud, maximize the use of their available funds and automate manual reconciliation processes. This new service further expands Trintech's range of funds management solutions.
Trintech's Statement Delivery service automates the daily retrieval, processing, aggregation and delivery of commercial bank statements -- without manual data entry. Trintech automatically retrieves all daily bank statement data from the Internet, validates the data integrity, converts it to a standard format, and hosts it in a single file on a secure server for customer access. The service integrates with any financial system including reconciliation systems, treasury workstations, cash management, and general ledger systems. For customers using Trintech's ReconNET system, Statement Delivery provides a powerful, fully-integrated solution for automated data retrieval and reconciliation.
This unique, powerful service enables businesses to bring account data from small regional banks, which only offer data access through their websites, into corporate financial systems for full visibility of transactions and control of the funds. The service also eliminates the daily effort and time for businesses that require data retrieval, formatting and validation from multiple banks.
"We have a number of banks with no dial-up access, and others that can't give us data in the format we need," said Steve Graham, Vice President and Controller at Sbarro, a leading international operator and franchisor of family style Italian restaurants. "Trintech's Statement Delivery service gets all that data for us faster and more efficiently than we could do it manually, and turns it into a format we can use in our daily reconciliation processes."
"Statement Delivery takes the daily data retrieval burden off businesses," said David Rodriguez, Product Manager at Trintech's FMS Division. "With this new service, finance departments can focus on using their data rather than the mechanics of retrieving, validating and formatting it."
The new Statement Delivery service further expands Trintech's range of accounting and funds lifecycle management solutions. Trintech now offers an unmatched suite of comprehensive solutions that enables companies to optimize financial data retrieval, streamline and automate daily and monthly transaction reconciliation processes, and analyze the performance of their organization and bank relationships.
About Sbarro
Sbarro is a leading international operator and franchisor of family style Italian restaurants. Ranked among the top restaurant chains, Sbarro currently has 930 stores, including restaurants in 21 countries. Sbarro was founded in 1959 by Gennaro and Carmela Sbarro and remains family owned today. Headquartered in Melville, NY, Sbarro has expanded to include other casual and fine dining restaurants. Sbarro can be contacted at (631) 864-0200. www.sbarro.com
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.
The press release can be downloaded from the following link: http://reports.huginonline.com/918684/123426.pdf