DUBLIN, Ireland and DALLAS, Feb. 28, 2005 (PRIMEZONE) -- Trintech (Nasdaq:TTPA) (Prime Standard:TTP), a leading provider of transaction reconciliation and payment infrastructure solutions, today announced that TUI Northern Europe, a division of TUI AG, the world's largest tourism and services group, selected Trintech's ReconNET to automate the verification and reconciliation of cash banking and credit card transactions, including foreign currency deposits from Forex Bureaus distributed throughout its 1,100 agencies. Additionally, the solution automates the verification and reconciliation of the company's principal disbursement account.
TUI Northern Europe owns many of Europe's best-known holiday brands, and provides its traveling customers in the United Kingdom, Ireland, Sweden, Norway, Denmark and Finland with world-class vacation experiences through its airlines, tour companies and travel agencies.
The ReconNET solution replaces a heavily-customized third-party system that required time-consuming and labor-intensive reconciliation and research processes. ReconNET streamlines cash management processes, increases internal controls, and provides effective risk management and reporting across the company's U.K., Ireland, and Nordic agencies.
"Ensuring the highest standards of business efficiency was key -- that's why we wanted an automated solution as well as a more comprehensive, timely process to ensure control of operations," said Steve Newman, Director of Finance, TUI NE. "The fact that Trintech was able to complete the configuration, implementation and training in a matter of weeks was a massive advantage."
"Our complete focus on TUI NE's success and our ongoing commitment to driving real, measurable value is a competitive differentiator," said John Harte, General Manager of Trintech's Funds Management Systems Division. "Usage of our solutions continues to expand in the U.K. marketplace, further testimony to the high value of our software. We remain committed to maintaining our leadership position in the enterprise-wide reconciliation solutions marketplace."
About TUI NE
TUI Northern Europe is part of TUI AG, the largest tourism and services group in the world, employing 80,000 people in 500 companies around the world. TUI NE is comprised of TUI UK, TUI Nordic, TUI Ireland, Specialist Holidays Group (including Austravel) and teletext-based travel agency, Team Lincoln. TUI NE is a world-class, innovative and customer-focused company, which owns many of Europe's best-known holiday brands and has leadership positions in its airline, inclusive tour business and travel agency sectors. TUI Northern Europe employs 17,500 people in the U.K., Ireland, Sweden, Norway, Denmark and Finland. www.tui.com
About Trintech FMS
Trintech Funds Management Systems (FMS), a division of Trintech Group, provides comprehensive, industry-leading solutions that optimize enterprise funds management including the ReconNET reconciliation product suite, ExecuNET Executive Reporting, Bank Fee Analysis, and DataFlow transaction data network and services. Trintech's FMS solutions are optimizing performance in over 400 leading companies in retail, hospitality, food service, insurance, banking, government and other industries, including YUM! Brands Restaurants, Foot Locker, Radio Shack, 7-Eleven, Whitbread Group, Verizon Wireless, Kroger, Regal Entertainment, Budget Rent A Car, Wendy's, Farmer's Insurance Group, and the University of Missouri. Trintech FMS is headquartered in Dallas, Texas, and can be contacted at 972-701-9802 and on the web at www.trintech.com/fms.
About Trintech
Trintech is a leading provider of transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 18 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 U.S. at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel: +1 972 701 9802), and in the U.K. at 186-192 Darkes Lane, Potters Bar, Hertfordshire, EN6 1AF (Tel: +44 (0) 1707 827000). www.trintech.com.