- FinTech Global recognizes Trintech’s leadership in utilizing advanced Artificial Intelligence and Machine Learning capabilities to reduce the time and risk across the Record to Report process
Trintech, an industry-leading global provider of Record to Report software solutions for the Office of Finance, today announced that FinTech Global has named the company as one of the world’s most innovative AI solution providers on its inaugural AIFINTECH list for 2021. The list identifies the top 100 companies chosen by a panel of industry experts and analysts who reviewed a study of over 1,000 fintech companies undertaken by FinTech Global. The solution providers making the final list were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the financial services value chain.
Trintech has developed Financial Controls AI within its leading Record to Report platform, Cadency(R) by Trintech, to help customers quantitatively evaluate risk within the Record to Report process. Trintech’s Financial Controls AI allows customers to automate workflows based on their risk profile, all while identifying high-risk items for human review. Trintech’s Financial Controls AI strategy will continue to expand to help the Office of Finance:
– Evaluate and quantify risk across various financial close processes, entities, and functions
– Automate and optimize workflows based on risk
– Leverage insights into compliance controls through data analysis
– Develop best practices for risk evaluation, controls, automation and optimization, based on benchmarking data
– Evaluate and quantify key market trends to determine impact and drive proactive risk prevention measures
“The ability for the Office of Finance to provide real-time business-critical insights to drive confident decision-making has never been more important and we are fortunate to provide leading financial close solutions that not only speed up the Record to Report process but provide that real-time visibility to help drive those key business decisions,” said Michael Ross, Chief Product Officer at Trintech. “Over the past year, Trintech has invested heavily in its Financial Controls AI capabilities to help our customers reduce financial risk from multiple angles, save time and resources, and ultimately transform their operations.”
Cadency has helped financial institutions across the global achieve significant ROI including up to a 99% reduction in preparation time on reconciliations, up to a 90% reduction in the number of accounts needed to be reconciled and up to a 75% reduction in time for rework. Discover the ROI your organization can achieve by automating you Record to Report process.
The full AIFinTech100 2021 list is published online at www.AIFinTech100.com.
About FinTech Global
FinTech Global offers the most comprehensive data, the most valuable insights, and the most powerful analytical tools available for the global FinTech industry. FinTech Global works with market leaders in the FinTech Industry – investors, advisors, innovative companies, and financial institutions – and enables them to get the essential intelligence they need to make superior business decisions.
Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech’s portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company’s cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.
Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.
SOURCE: Trintech, Inc.