Unifying systems and ensuring data integrity through automated, scalable controls at Pictet Lux

Investment Management

“Duco makes it simple for our team to validate and enrich our data, ensuring its accuracy as it travels through our business. The platform is a key control point between systems that allows us to maintain a golden source of portfolio data to monitor fund commitments, risk exposure, performance and more.”

Pictet Luxembourg leverages Duco to ensure a single source of truth across their many fund management systems. The firm offers clients a wide range of investment products and uses Duco’s data automation platform to ensure transparency even as the business scales.

Their decision to adopt Duco was driven by the need for swift solutions that could support their long-term growth. The platform enables them to cross-check data efficiently, eliminating the manual work that used to slow them down.

Ensuring data integrity across a complex technology and product landscape

Pictet Lux have dedicated systems to manage their different products. For instance, they use a particular system to manage their alternative funds. This is necessary because these assets require different data to traditional financial instruments, where factors like price can fluctuate constantly.

A central system stores data on all products, allowing the business to monitor fund performance, total commitments, risk exposure, and so on. However, due to the differences between the formats, not all data flows automatically to the satellite systems. In particular, product identifiers are missing from the satellite systems.

Duco performs a vital control function between the master and satellite systems, automating, ingesting and matching up fund data. This was previously performed manually, because of the difficulty in matching up data on the same fund from different systems. For instance, different systems and providers used different naming conventions – some even used Roman numerals. This made it hard for the team to ensure that they were matching data correctly.

“Pictet expects the best from our technology and every tool is challenged to prove its value. Duco has proven itself as the most effective solution to providing agility and control over our data as our business grows.”

The Duco platform makes it simple to match data across multiple fields, which is vital in cases where naming conventions differ. The ability to set tolerances for matching compensates for minor variations in fields, such as pricing. Pictet Lux’s team can use other information, such as the total value of commitments in the fund, to ensure they are matching up the right data.

It’s then possible to enrich the data in satellite systems with missing information, such as fund IDs, from the master system. This ensures that the entire business is operating on the same information, making reporting, risk monitoring, trade allocation and more much simpler.

Previously, it would have taken significantly more effort for the firm to achieve a clear understanding of their portfolio.

Duco makes this easy thanks to several core features of the platform. The flexible data ingestion makes it simple to feed in information from multiple source systems.

Thanks to the no-code functionality and the ease-of-use of the platform, the team is able to quickly spin up new controls when needed. As Pictet Lux grows and adds new products and systems they need to be able to integrate these as quickly as possible to ensure they maintain total visibility over their operations. The firm wants to ensure they have the best tool for the job, so being able to expand their architecture easily to accommodate new systems is important.

Pictet Lux’s investment in Duco reflects a strategic vision for the future. They see Duco as the foundation for establishing a centre of excellence within their organisation. This centre will enable them to take on more work across various units, positioning them for sustained growth and success in the long run.

“The controls we build in Duco are key as they support everything we’ve developed since. Without Duco several critical projects could have been very complex to develop. The platform is a key factor in us being able to initiate these, which ultimate brings efficiencies to our business and delivers ROI.”