Trintech Acquires Fiserv’s Reconciliation Solutions and 400 Blue-Chip Clients
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⇨ Trintech acquired Frontier Reconciliation and Accurate Reconciliation from Fiserv.
⇨ Trintech enhances its capabilities to serve clients across diverse industries, unlocking new possibilities for streamlining financial close processes.
⇨ Improving the efficiency of the close with automation is a top strategy for SAPinsiders who want to transform closing processes.
Trintech, a leading global provider of cloud-based financial close solutions for the office of the CFO, has taken a significant step towards bolstering efficiency in financial close processes. It recently acquired Frontier Reconciliation and Accurate Reconciliation from Fiserv, a prominent fintech and payments solutions provider. Trintech’s current clientele spans multiple verticals, including financial services, telecommunications, retail, insurance, and utilities, making this strategic move even more impactful for the office of the CFO. This strategic move aligns perfectly with the current trend among SAPinsiders of transforming their closing processes through automation.
Darren Heffernan, CEO of Trintech, emphasized the significance of this acquisition, stating, “In this era of intense digital transformation, accounting automation, reconciliations, and financial close represent a significant market opportunity. This acquisition positions Trintech to provide even more compelling financial close capabilities, broaden the reach of our partner ecosystem, and drive impressive ROI for our customers.”
The acquisition also fortifies Trintech’s position in the industry, backed by over 35 years of global innovation in automation, reconciliations, and financial close processes. The addition of Frontier Reconciliation and Accurate Reconciliation to Trintech’s portfolio brings with it a wealth of experience, serving over 400 blue-chip clients globally, including eight of the top 10 banks and two of the top three insurance companies in the United States.
By integrating Frontier and Accurate Reconciliation into its portfolio, Trintech enhances its capabilities to serve clients across diverse industries, unlocking new possibilities for streamlining financial close processes. This broadening of offerings is expected to catalyze innovation within the accounting automation space, reinforcing Trintech’s position as a leading global provider of cloud-based financial close solutions. SAPinsiders are poised to benefit from these enhanced reconciliation solutions, which can streamline complex financial data handling and reduce manual efforts and errors during the financial close process.
The company’s continuous commitment to talent recruitment and innovation is evident in this strategic move, as it expands its global headcount to nearly 700 and acquires key employees with technical expertise across North America, EMEA, and APAC.
“We are thrilled to add this powerful complement to Trintech’s market-leading portfolio,” added Heffernan, emphasizing the company’s holistic growth strategy, which focuses on rapid expansion into key verticals and the prioritization of continuous innovation.
Additionally, the exclusive referral agreement with Fiserv solidifies a strong partnership between the two companies, offering future collaboration opportunities and access to complementary solutions. This ongoing relationship will provide SAPinsiders with the advantage of harnessing the collective strengths of both Trintech and Fiserv.
“Trintech is well-positioned to guide the Frontier and Accurate reconciliation business through its next chapter, and we are confident they will provide excellent service to our clients and support for their businesses,” said Whitney Stewart Russell, President of Digital Solutions, Fiserv.
SAP customers can look forward to accessing Trintech’s expanded partner ecosystem, allowing them to integrate seamlessly with leading technology and service providers. This broader ecosystem will enable SAPinsiders to further optimize their financial close processes and enhance their operational efficiency.
Improving the efficiency of the close with automation is a top strategy for SAPinsiders who want to transform closing processes. Trintech’s acquisition of Fiserv’s reconciliation solutions is poised to reinforce this strategy, allowing SAPinsiders to streamline financial close processes and unlock new levels of operational excellence. The strategic move positions Trintech as a leader in financial close automation, providing SAP customers with powerful tools to drive efficiency and realize ROI. As the office of the CFO continues to prioritize automation and innovation, this acquisition sets a promising course for a more efficient and effective financial close process. SAPinsiders can look forward to future announcements, collaboration opportunities, and a broader partner ecosystem, solidifying Trintech’s commitment to supporting their journey towards financial excellence.
What this means for SAPinsiders:
Expect future announcements for enhanced reconciliation capabilities for SAP customers. With the inclusion of Frontier Reconciliation and Accurate Reconciliation, SAP customers will likely gain access in the coming years to powerful reconciliation tools that can efficiently handle complex financial data, reducing manual efforts and potential errors.
Future collaboration opportunities include robust financial data offering from Fiserv and broader partner ecosystem access. Fiserv is a leading financial data provider. The exclusive referral agreement with Trintech fosters a strong partnership, allowing SAPinsiders to explore future collaboration opportunities and access complementary solutions from both companies. Trintech’s expanded partner ecosystem opens new doors for SAP customers to integrate seamlessly with leading technology and service providers, enriching their financial close processes further.
The addition of cross-vertical expertise provides expanded knowledge base for SAP customers. The acquisition brings together customers from diverse industries, enabling knowledge sharing and cross-vertical expertise that can drive innovative approaches to financial close processes. This deal indicates that Trintech’s expanded accounting automation platform will undoubtedly meet the evolving needs of its diverse customer base.