Trintech Group (Nasdaq: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced the latest release of its innovative Lifecycle Management (LCM) Payments solution for financial institutions.
LCM Payments is a .NET browser-based account reconciliation and positive pay solution that enables financial institutions to provide their clients with a diverse range of real-time capabilities, based on customer-specific business requirements, while consolidating multiple existing systems into a single integrated platform. LCM Payments supplements other treasury management services solutions with advanced fraud prevention technology to provide clients with complete visibility into the status of their payments.
LCM Payments 1.7 seamlessly integrates into a financial institution's existing IT and payment system infrastructure delivering industry-leading features, including:
- Positive Pay: Provides customers of financial institutions with an effective deterrent to fraud
- LCM Dashboard: Provides an easily accessible web gateway for the customers of financial institutions to upload / download files or reports, search payments, etc.
- Teller Positive Pay: Expands revenue for financial institutions and provides a front-line defense against fraud
- Partial Deposit Recon: Expands revenue for financial institutions by allowing customers to easily identify deposits by location
- File Management Console: Enables a financial institution to easily monitor the uploading, conversion, and loading of customer-provided issue, stop, and void data
- Report and Extract Reporting: Facilitates a financial institution's rapid setup and deployment of reports and extracts to customers based upon assigned services (e.g., partial recon, full recon, positive pay, teller positive pay, and partial deposit recon)
Michael Campbell, Executive Vice President for Bank of Nevada, said, "With this version of LCM Payments, the Bank of Nevada will be able to provide new, value-added treasury management services to existing clients. We'nagement services to exnagement services to existing clients. ients. We're already attracting new corporate clients through LCM Payment's truly unique capabilities."
LCM Payments allows financial institutions to offer their clients customized workflows for exceptions, statuses, and payment actions. The web front-end eliminates the limitations inherent in existing on-line positive pay and account reconciliation treasury management offerings. Additionally, the solution increases the relationship value between available legacy solutions and LCM Payments' industry-leading features and functionality.
"By creating internal efficiencies, LCM Payments reduces IT and operational costs for financial institutions," said Kevin Connelly, Senior Vice President and Managing Director, the Financial Service Group, Trintech. "Our goal is to strengthen the solution's value proposition to financial institutions and their corporate clients with each round of development. Today, with LCM Payments, a financial institution can increase service levels and generate incremental revenue, while reducing related operating costs."