Mama Money is a rapidly growing fintech that offers cross-border money transfers and banking services.
They originally chose Duco to help automate their payments and cash reconciliations. These were previously done using a mixture of in-house systems and manual processes. By switching to Duco, Mama Money was able to achieve savings in personnel and increase financial control and operational efficiency.
Following this success, the firm expanded their use of the Duco platform to introduce daily cash balance reconciliations and unlock a centralised view of bank statement data.
“Duco’s advanced technology offered us something different compared to other platforms that were not originally designed for the cloud. The deployment was surprisingly quick and we saw an immediate impact on our reconciliation and financial control processes. Duco gives us great flexibility and scalability to grow our volumes without needing additional staff to oversee this time-consuming process.”
They chose Duco due to our self- service automation capabilities, flexibility and the potential for rapid impact. Mama Money have since been able to eliminate manual payments reconciliations and focus on fixing exceptions at source, resulting in a 99% match rate.
Removing spreadsheet-based controls means that multiple departments have been freed of the burden of manual work and the remaining exceptions are managed by a single, small team.
In an environment where margins are slim, and where transactions go real-time, the value of a cloud-based reconciliation platform that offers a rapid deployment, fast time to value and quick ROI is invaluable.