Enhanced Account Reconciliation and Positive Pay Solution Launches at SIBOS 2010
LCM Payments 2.0 Offers a Competitive Advantage for Financial Institutions
Dallas/Seattle/Dublin/Amsterdam - October 25, 2010
Trintech
Group Plc (NASDAQ: TTPA), a leading provider of integrated financial
governance, risk management and compliance (GRC) software solutions, and
Treasury Technologies, LLC a leading provider of next generation payment system
solutions, today unveiled the newest release of their lifecycle management
software for financial institutions – LCM Payments 2.0 – at the 2010 SIBOS
conference in Amsterdam.
Trintech and Treasury Tech attended the event with technology
partner Microsoft. LCM Payments 2.0 utilizes the most advanced Microsoft technology,
including the Microsoft .NET framework, Microsoft SQL Server and Microsoft
Silverlight presentation layer. The solution delivers a browser-based account
reconciliation and positive pay capability, enabling financial institutions to offer
a more diverse range of real-time capabilities to their customers, while
consolidating existing systems into a single, integrated platform.
“LCM Payments solution supplements a bank’s treasury management
system,” said Kevin Connelly, Managing Director for Treasury Tech. “The advanced
fraud prevention technology offers complete visibility into the status of payments,
while mitigating associated risks. Now financial institutions of all sizes can
offer their clients customized workflows for exceptions, statuses, and payment
actions – delivered through an intuitive web front-end.”
“Transaction reconciliation and fraud detection are increasingly important functions in banking and treasury operations, and this announcement provides an excellent example of how Microsoft and its partners are enabling customers to deploy and manage mission-critical solutions to meet those needs,” said Karen Cone, general manager, Worldwide Financial Services, Microsoft. “Along with partners such as Trintech and Treasury Tech, the Microsoft Financial Services group helps financial institutions leverage technology to manage risk and compliance, gain deeper business insight, and achieve operational excellence.”
By integrating the disparate systems required to deliver
account reconciliation and positive pay services, LCM Payments reduces IT and
operational costs, creating internal efficiencies for financial institutions
and corporate cash management users. Industry-leading features include:
- Web based positive pay decision capability, as a replacement for or integrated with existing Treasury Management On-Line Portal
- Automated issue and paid file integration enabling universal file output and input functionality with real time payment management dashboard
- Enhanced partial and full and deposit reconciliation reporting functionality
- Advanced Check and ACH Positive Pay fraud mitigation capabilities.
- Teller Positive Pay interface option to almost any existing teller system
- Positive Payee integration with existing OCR payee capture systems
- Real time process and flexible on-line reporting
- Financial Object payment orientation enabling Card, SWIFT and a wide variety of future payment reconciliation and fraud mitigation capabilities.
- An intuitive dashboard interface that allows clients to manage a variety of transaction types – and to perform positive pay decisions, adjustments, submit and receive files, manage exceptions, and initiate reports online in real-time – all from one screen.
“LCM Payments provides a unique value proposition to
financial institutions and their corporate clients,” said Greg Hauser, Director of Product Management for LCM
Payments. “Now banks can increase service levels, generate incremental revenue,
and still reduce related operating expenses. LCM Payments provides a highly
transparent view of all internal and external financial transactions and
accounting metrics, with enterprise-level monitoring capabilities. In terms of
reducing fraud and increasing compliance, it’s pioneering.”
About Trintech Group
Trintech Group Plc (NASDAQ: TTPA) is a leading global provider of integrated financial governance, risk management, and compliance (GRC) software solutions for commercial, financial, and healthcare markets. Trintech’s recognized expertise in reconciliation process management, financial data aggregation, financial close and reporting, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance.
For more information on how Trintech can help you increase confidence in business performance and reduce financial risk, please contact us online at www.trintech.com or at our principal business office in Addison, Texas, or through an international office in Ireland, the United Kingdom, or the Netherlands.
Trintech • 15851 Dallas Parkway, Suite
900 • Addison, TX 75001 • Tel 1 972 701 9802
Trintech UK Ltd. • Warnford Court, 29 Throgmorton St. • London EC2N2AT, UK •
Tel +44 (0) 20 7628 5235
Trintech Technologies • Block C, Central Park • Leopardstown, Dublin 18,
Ireland • Tel +353 1 293 9840
Trintech • Cypresbaan 9 • 2908 LT Capelle a/d Ijssel, The Netherlands • Tel +31
(0) 10 8507 474
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Trintech Media Contact
Dave
Tomlinson, (972) 739-1611
dave.tomlinson@www.trintech.com
All product and company names herein may be trademarks of their respective owners.
Published Monday, October 25th, 2010 and filed under Products
