The bank has seen enormous time savings by replacing legacy systems with our fast, agile solution. Transaction reconciliations that took 9 hours on one of the leading legacy technology systems complete in just 15 minutes on the Duco platform. Processes that used to take 45 minutes on another system run in 3 minutes on Duco.
These huge efficiency gains mean that project cycles at the bank are slashed from three months to just two weeks. The bank has used Duco to implement a standardised global model and reduce operational risk.
This speed doesn’t come at the cost of accuracy – in fact auto-match rates have increased 15% in the first instance to above 99.99%.
The bank also delivered much greater control and transparency for end users compared to its legacy platforms. For example, with Duco it is easy to revisit the results of the previous day’s reconciliations. Before Duco, the bank’s staff had to request advanced technical support from the previous vendor to get these results.
These huge efficiency gains mean that project cycles at the bank are slashed from three months to just two weeks. The bank has used Duco to implement a standardised global model and reduce operational risk. This has delivered an annualised return on investment by eliminating several legacy technology solutions and 600 end user-developed applications (EUDAs).
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