Trintech, a leading global provider of cloud-based financial close solutions for the Office of the CFO, has announced its acquisition of Frontier™ Reconciliation and Accurate™ Reconciliation from Fiserv. This acquisition is part of Trintech’s strategy to enhance its accounting automation platform and expand its capabilities.
The acquisition of Frontier Reconciliation and Accurate Reconciliation brings two leading reconciliation solutions to Trintech’s portfolio, allowing the company to offer a broader range of capabilities to its customers. These solutions are used by over 400 blue-chip clients worldwide, including major banks and insurance companies in the United States.
In addition to the software solutions, the acquisition includes key technical expertise from employees supporting these solutions across North America, EMEA, and APAC. This expansion increases Trintech’s global headcount to nearly 700 employees. Customers will not only benefit from an expanded talent pool but also gain access to Trintech’s partner ecosystem of technology and service providers.
The acquisition also includes an exclusive referral agreement with Fiserv, allowing Trintech to expand its global presence and capabilities into new international markets. Fiserv will continue to provide solutions and services to many of the clients previously served by Frontier and Accurate reconciliation solutions.
Darren Heffernan, CEO of Trintech, emphasized that this acquisition positions Trintech to provide even more compelling financial close capabilities and supports the company’s growth strategy of expanding into key verticals and prioritizing continuous innovation and talent recruitment.
Trintech is known for its cloud-based reconciliation and financial close solutions, serving Finance & Accounting departments with a range of tools to manage various aspects of the reconciliation and financial close processes. The company’s solutions, including the Cadency Platform for large enterprises and the Adra Suite for mid-market organizations, aim to optimize data, control risk, drive efficiencies, and provide strategic insights.
Fiserv, on the other hand, is a global leader in payments and financial technology, providing various solutions to help clients move money and information effectively. It will continue to serve many of the clients who previously used the acquired reconciliation solutions through its future relationship with Trintech as a referral partner.
About Trintech
The acquisition represents a strategic move by Trintech to expand its market presence and offer more comprehensive financial close and reconciliation solutions to a broader customer base.