The Republic Group Selects Trintech’s ReconNET, AssureNET GL, and TRACKER to Improve Account Reconciliation and Escheatment Reporting
Dallas, Texas/Dublin, Ireland - March 10, 2008
Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that The Republic Group has selected ReconNET for depository and disbursement reconciliation, AssureNET GL for general ledger reconciliation, review, and certification, and TRACKER for escheatment reporting.
The Republic Group, through independent agents primarily in Texas, Oklahoma, Louisiana, Mississippi and New Mexico, provides personal property, dwelling fire, personal automobile and commercial insurance through four business segments: personal lines, commercial lines, program management, and insurance services. Based on financial condition and operating performance, the A.M. Best Company has assigned The Republic Group companies a Best’s Rating of A- (Excellent), VIII.
“We wanted one vendor for multiple solutions. We were pleased when we discovered that Trintech could provide us with all that we needed,” said Tim Morgan, AVP and Corporate Controller for The Republic Group companies. “The functionality and flexibility of ReconNET addresses our need to automate reconciliation and exception management processes, and it will help us manage certain controls over financial reporting in a more efficient manner. TRACKER will increase the level of control and visibility into our unclaimed property and escheatment processes, and we expect AssureNET GL to reduce cost and effort associated with compliance administration.”
Trintech’s solutions automate complex daily, monthly and periodic internal processes to help finance and treasury staff of large enterprises (including enterprises with high-volume processing requirements) tighten controls, reduce risk, cut costs, leverage cash and make more informed decisions.
“Our solutions help customers like The Republic Group eliminate errors and reduce risk commonly associated with manual data-checking and allow them to redeploy staff to more critical operational issues,” said Kevin Connelly, Senior Vice President and Managing Director, Trintech Financial Services Group. “By combining the use of our financial accounting solutions, customers can process a growing number of transactions, without incurring a linear increase in operational costs.”
About The Republic Group
Republic Companies, Inc. provides personal and commercial property and casualty insurance products through a group of affiliated insurance companies and related entities. “The Republic Group” is an industry designation for the affiliated insurers. In its Independent Agents segments, Republic distributes these products to individuals and small to medium-size businesses through a network of independent agents primarily in Texas, Louisiana, Oklahoma, Mississippi, and New Mexico. In its Program Management and Insurance Services segments, Republic capitalizes on its unique combination of charters and licenses to develop and manage target-niche insurance products that are distributed through managing general agents in many additional states. Visit www.RepublicGroup.com for more information. Republic Companies, Inc. is an indirect subsidiary of Delek Capital Ltd., a majority-owned subsidiary of Delek Group Ltd.
About Trintech Group
Trintech Group Plc (NASDAQ: TTPA) is a leading provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide. Trintech’s recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance.
Over 600 leading global organizations realize the benefits of Trintech’s configurable and highly scalable solutions everyday, including 7-Eleven, Accenture, Allianz Life North America, Ameren, Bank of Nevada, Farmer’s Insurance Group, Kinder Morgan, Regal Entertainment, Rohm and Haas, Sears, UPMC, Verizon Wireless, Wyndham Worldwide, and YUM! Brands Restaurants.
Trintech’s technology enables our customers to ensure their internal financial processes are optimized, improve performance through stronger management of revenue and cost cycles, ensure the accuracy and integrity of financial data, improve the quality and efficiency of the financial close process, as well as reduce the risk of material weaknesses and restatements.
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 • 44 (0) 20 7628 5235
Trintech Technologies • Block C, Central Park • Leopardstown, Dublin 18, Ireland • Tel 353 1 293 9840
Trintech Media Contact:
Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@www.trintech.com
Published Monday, March 10th, 2008 and filed under Customers
