Trintech, a Plano, Texas-based global provider of cloud-based financial close solutions for the Office of the CFO, acquired Frontier™ Reconciliation and Accurate™ Reconciliation from Fiserv (NYSE: FI), a global provider of fintech and payments solutions.
Serving customers across multiple verticals including financial services, telecommunications, retail, insurance and utilities, the acquired reconciliation business will expand Trintech’s accounting automation platform.
Through the acquisition, Trintech gains two reconciliation solutions, further enhancing the company’s portfolio of capabilities. The addition of Frontier Reconciliation and Accurate Reconciliation, used by more than 400 blue-chip clients across the globe, including eight of the top ten banks and two of the top three insurance companies in the United States, enables these newly acquired clients to benefit from complementary product offerings and differentiated solutions across key U.S. and international markets.
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 headcount to nearly 700. New and existing customers benefit not only from expanded technical talent and capabilities but also by gaining access to Trintech’s partner ecosystem of leading technology and service providers. Additionally, as part of an exclusive referral agreement with Fiserv, Trintech expands its global presence and capabilities into new international markets.
Led by Darren Heffernan, CEO, Trintech is a global provider of cloud-based, integrated reconciliation and financial close solutions for Finance & Accounting departments. From high volume transaction matching, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, close management tasks, to governance, risk and compliance – Trintech’s portfolio of financial solutions, including its Cadency® Platform (for large enterprises) and Adra® Suite (for mid-market organizations), help manage all aspects of the reconciliation and financial close processes. Over 4,200 clients worldwide – including the majority of the Fortune 100 – use its solutions to enable their F&A operation to become a strategic partner to the business by optimizing data, controlling risk, driving efficiencies, and providing strategic insights.
Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands, and the Nordics, as well as strategic partners in South Africa, Latin America, and the Asia Pacific.
FinSMEs
25/07/2023