Momentum Metropolitan, a South African financial services group, have reduced reliance on manual work, demised a legacy solution and empowered end-users to handle day-to-day reconciliation tasks thanks to Duco’s intuitive and agile cloud-based data automation platform.
This is part of a wider strategy to consolidate all their data processes from across the business onto a single solution.
The flexibility of Duco’s reconciliation solution has already enabled Momentum Metropolitan to decommission their previous tool for cash and custody position reconciliations. On top of this, the firm has also eliminated many of their manual processes and automated large portions of their data management.
“Our reconciliations are now more centralised and we’ve significantly increased the transparency of our processes.”
Duco’s Professional Services team mapped and built the necessary reconciliations with minimal requirements, ensuring Momentum Metropolitan’s processes were optimised in line with best practice to improve operational efficiency. This means users are free to focus on day-to-day reconciliation tasks.
Before Duco, Momentum Metropolitan had numerous issues with their reconciliations; end-users in the firm’s Balance Sheet Management team required constant developer support to configure the complicated processes involved in loading new clients, mapping files and setting up rules.
Duco’s no-code, self-service platform means that business users are now in control of the firm’s data, ending the reliance on developers and making reconciliation much easier. The platform’s intuitive user interface has greatly improved transparency over processes, and actions that formerly required IT to write scripts, such as marking a run as failed if the wrong files are submitted, are now simple for end-users to perform themselves.