NewDay Cards Achieves 99% Auto-Match Reconciliation Rate with Trintech
Case Study
Share
Business Drivers to Automate
When NewDay Cards underwent a major acquisition, the resulting business growth presented an unprecedented challenge: a doubling of daily transactions to nearly one million. “The volume was simply unmanageable with manual methods,” shared Chrstopher Houghton, Lead Finance Systems Infrastructure Engineer with NewDay Cards. “Scaling up our team wasn’t a viable option. We needed a solution that could handle this growth seamlessly and with precision.”
Decision to Automate with Trintech
After evaluating several options, NewDay Cards selected Trintech’s ReconNET solution for its simplicity, scalability, and self-managed capabilities.
“We needed a solution that allowed us to grow without depending on external resources or significantly retraining our team,” said Houghton. “ReconNET’s ease of use meant that even as our transaction volumes continued to rise, our accountants could adapt quickly and confidently.”
ReconNET’s ease of use meant that even as our transaction volumes continued to rise, our accountants could adapt quickly and confidently.”
Transformative Results
More than a decade later, ReconNET remains at the core of NewDay Cards’ reconciliation process. The company has scaled from 1 million to over 3 million daily transactions—all without adding headcount. “Achieving a 99% automatic reconciliation rate has been a game-changer,” Houghton noted. “We recently acquired a major UK retailer and seamlessly integrated their operations without increasing staff. This level of efficiency would have been unattainable with manual processes.”
In addition to handling high transaction volumes, ReconNET has provided unparalleled visibility and risk management capabilities. Houghton shared:
- Daily Risk Monitoring: “We export outstanding items daily, flagging those that exceed risk thresholds to ensure timely action.”
- Bottleneck Prevention: “Exceptions are quickly identified and allocated to the correct accounts, minimizing delays.”
- Strategic Impact: “Our team is now free to focus on higher-value tasks, like returning rejected payments and improving customer service.”
Future-Ready Growth
As NewDay Cards continues to scale, ReconNET remains an integral part of its strategy. “Trintech has equipped us with the tools to succeed today and grow tomorrow,” said Houghton. “We’re excited to keep optimizing and exploring new ways to leverage the solution for even greater efficiency and risk management as we continue to grow our customer base and portfolio through new acquisitions.”
Read the Full Case Study
Discover key insights and actionable strategies by downloading our full case study.
See Trintech in Action
Seeing is believing. Discover why Trintech is the real leader in financial close automation.
