SOURCE: Terrapin Technologies, Inc.

May 23, 2005 06:00 ET

Terrapin Technologies, Inc. Completes Pandia Implementation at ABN AMRO Financial Services, Inc.

MINNEAPOLIS, MN -- (MARKET WIRE) -- May 23, 2005 -- Terrapin Technologies, Inc. of Minneapolis, MN, has completed the implementation of Pandia, Terrapin's suite of back-office applications, for ABN AMRO Financial Services (AAFS). AAFS is a broker dealer that operates in Illinois' LaSalle Bank and Michigan's Standard Federal Bank.

AAFS selected Pandia after reviewing more than 30 vendors to replace its commission processing system. Terrapin successfully integrated over 50 data sources, covering 12 lines of business, to provide an integrated back office suite. Pandia modules implemented by AAFS include commission processing and accounting, production and payroll reporting, document scanning and archiving, management reporting, compliance reporting, a workflow management system, and an online account access application. In addition to these modules, Terrapin will continue to work with AAFS to streamline back-office and sales operations.

Highlights

*Terrapin enhanced its document management and workflow modules to make an electronic version of the AAFS bag log, a hand written document that was used to track paperwork, checks, and securities certificates that brokers were sending into the back office via interoffice mail. The new system efficiently tracks incoming paperwork, scans and archives paperwork, and routes the documents to the appropriate departments for data entry and review. "This new method of inputting bag logs has been a real efficiency driver... not to mention how many errors it prevents," says Bryan Tabiadon, Director Data Management & Systems, AAFS.

*One challenge of the implementation was getting commission revenue from 12 lines of business, plus broker payroll information, reported via one General Ledger interface, without manual intervention. Terrapin extended its commission accounting package to add a robust transaction driven general ledger that feeds data to AAFS' corporate General Ledger on a nightly basis. "Implementing the Pandia GL interface exceeded my expectations. We now receive and review commission revenue and expense information automatically, on a daily basis," said Tom Paulus, Controller.

Terrapin Technologies, Inc. is a privately held company located in Minneapolis, Minnesota. Terrapin specializes in developing and supporting transaction processing, scheduling, and information management systems for the banking and insurance industry. More information on Pandia and Terrapin Technologies is available from:

Terrapin Technologies, Inc
4600 Lake Road, Minneapolis, MN 55422
Phone 763-971-3100.
Web:  www.terrapintech.com

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