Driehaus Capital Management Selects Trintech’s ReconNET to Streamline Cash and Trade Transaction Processing
US-based Money Management Firm to Use Trintech’s ReconNET to Automate Cash and Investment Trade Reconciliation Processes
Dallas, Texas/Dublin, Ireland - 8 March, 2006 - Trintech Group Plc (NASDAQ: TTPA), a leading provider of transaction reconciliation and payment infrastructure solutions, today announced that Driehaus Capital Management has selected Trintech’s ReconNET to automate the verification and reconciliation of its cash activity, cash account balances, trade activity, position balances, and foreign exchange trade activity. ReconNET – an integrated, standardized solution for verification, reconciliation, exception research, account balancing, and reporting – is designed to assist Driehaus in the reconciliation process between its clients’ accounts and its clients’ custodian banks.
Driehaus Capital Management is an institutional money management firm focusing on small cap and mid cap growth companies. Founded in 1982, the firm’s clients consist of institutional clients, mutual funds and high net worth individuals.
“Traditionally, we have reconciled some of our daily transactions manually. It is a mode of operation that can be time-consuming and inefficient,” said Terri Fredrick, Vice President of Operations for Driehaus Capital Management. “We were looking for a solution that would help increase efficiencies and reduce the risk of errors. We also required a scalable solution – one that would meet our needs today and in the future.”
ReconNET’s matching functionality for one-to-many and many-to-many item reconciliation will directly support the full operational practices found in this environment. Additionally, ReconNET will help automate position reconciliations associated with the company’s clients’ custodian banks. ReconNET’s built-in detective and preventative financial controls will provide a continuous control framework that will improve auditability and reporting.
“Driehaus was very clear about its requirements. They selected ReconNET for its breadth of functionality, ease of use, and its proven ability to reduce risk and improve operational efficiency,” said John Harte, General Manager of Trintech Inc. “Organizations look to Trintech to not only deliver proven solutions, but to also understand their specific business needs. We’re very pleased to be working with such a well-respected money management organization.”
About Driehaus Capital Management
Driehaus Capital Management LLC provides investment management services to institutional clients, high net worth individuals, and mutual fund investors. They specialize in domestic and international investing, using an aggressive growth style, with the objective of capital appreciation. Driehaus manages over $3 billion in assets spread between institutional portfolios and mutual funds. Driehaus is based in Chicago, Illinois. For more information visit www.driehaus.com
About Trintech FMS
Trintech Funds Management Systems (FMS), a division of Trintech Group, provides comprehensive, industry-leading solutions, specializing in transaction verification, reconciliation, process management and compliance. Trintech’s suite of products includes the ReconNET reconciliation product suite, AssureNET GL for managing general ledger reconciliation and compliance, Treasure eNET - an ASP hosted treasury workstation, Bank Fee Analysis, and the DataFlow Transaction Network for data collection and delivery. Trintech’s solutions are optimizing performance in over 400 leading companies in the banking and finance, convenience store and grocery, entertainment, hospitality, insurance, restaurant, retail, telecommunication, and utility industries. Clients include: Bank of America, 7-Eleven, Kroger, Regal Entertainment, Accor, Farmer’s Insurance Group, YUM! Brands Restaurants, Radio Shack, Verizon Wireless, and Ameren. The FMS division is headquartered in Dallas, Texas. For more information visit Trintech online at www.trintech.com/fms or call 972-701-9802.
About Trintech Group
Trintech Group is a leading provider of transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 19 years of experience, Trintech’s solutions manage each area of the payment transaction cycle from authentication, authorization, settlement, dispute resolution and reconciliation - enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. Trintech can be contacted in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: +353 1 2074000), in the US at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel: +1 972 701 9802), in Uruguay at Technology & Business Park, Zona America - Ruta 8 Km. 17.500, Of. 006 - Local 310, ZIP 91.600, Montevideo (Tel: + 598 2 518 2250), in the UK at The Colonnades, Beaconsfield Close, Hatfield, Hertfordshire, AL10 8YD (Tel: +44 1707 632900), and on the web at www.trintech.com
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