Using Duco to rapidly build data controls for SFTR

Top 5 European Bank

An end-to-end reconciliation solution for SFTR in just 18 days. Duco empowered one of the top European banks to eliminate manual processes and unlock a more agile way to tackle the complexity of SFTR data.

This SFTR implementation at a top 5 European bank followed a successful global deployment of Duco for MiFID II reconciliations.

The customer chose Duco for its flexibility and agility. Unlike traditional data automation systems, Duco does not have a predefined schema that the data needs to conform to. The client was able to upload data from any source system and Duco could adapt to it.

It took less than 18 days to build and implement an end-to-end reconciliation solution for SFTR, including data analysis, reconciliation build, configuration, testing and downloadable dashboards for reporting.

Duco’s technical capabilities and professional services expertise enabled the customer to upload data from multiple source systems with little or no pre-transformation, identify mandatory, conditional and optional fields, automatically route exceptions to appropriate teams and gain confidence in the accuracy of their regulatory data.

The customer uses Duco to ingest, normalise and reconcile data across the entire SFTR reporting lifecycle, including:

  • Ingestion and normalisation of data from source systems
  • Data validation across the bank’s internal systems and external counterparties
  • Reconciliation between the bank, its Service Provider and the Trade Repository
  • Exception management of all breaks

This has replaced all manual reconciliation processes for SFTR reporting, resulting in improved operational efficiency and reduced costs.

The bank is compliant in the short term and has a sustainable, auditable process set up to meet the ongoing demands of the regulation.