DUCO NAMED BEST SELL-SIDE RECONCILIATION PLATFORM
MOST RECENT INDUSTRY RECOGNITION COMES AFTER BEING NAMED BEST BUY- SIDE PLATFORM FOR THE LAST TWO CONSECUTIVE YEARS BY WATERS TECHNOLOGY
London and New York, 16 April 2019 – Duco, the global leader of enterprise data quality and next-generation reconciliation services, today announced it has been named “Best Sell Side Reconciliation Platform” at the Waters Technology/Sell Side Technology 2019 Awards. This recognition follows Duco having recently received “Best Buy Side Reconciliation Platform” by Waters Technology/Buy Side Technology Awards last fall for the second consecutive year.
Since its introduction five years ago, Duco’s game changing data quality and reconciliation platform has been adopted by over 80 financial firms, including 14 of the top 30 global banks, and over 600+ indirect clients through Duco’s extensive partner ecosystem.
To speed growth and eliminate manual and resource intensive business processes, financial institutions globally are undergoing strategic digital transformation programs seeking to displace inefficient and inflexible legacy reconciliation technologies, some of which date back to the 1990s. These firms are turning to Duco to underpin their approach to improve regulatory compliance and efficiency and to reduce operational risk.
Waters Technology / Sell Side Technology is the leading financial market technology information provider and the home of numerous industry publications. “There is no question that Duco is changing the game. They have disrupted the reconciliation space with an exciting new approach for firms seeking to quickly and efficiently rationalize and streamline their business operations processes.” said Victor Anderson, Editor- in-Chief of Waters. “It’s a testament to Duco to be awarded both the Best Buy Side Reconciliation Platform and the Best Sell Side Reconciliation Platform. It will be exciting to see where they go from here with their focus on machine learning to automate workflows that have been dominated by manual workarounds.”
Duco Founder and Chief Executive Officer Christian Nentwich commented, “Duco is focused on democratizing the control of data quality. By empowering end users to aggregate, normalize and reconcile data themselves and without projects, we accelerate the elimination of risk and inefficiency. Clients are gravitating towards our approach because it does not burden already stretched IT departments, can be deployed in 24 hours instead of months and delivers tangible business results and ROI within the first 30 days of use.”
“It is wonderful to be recognized by Waters again, now as the industry’s top sell-side reconciliation platform as well as the best buy-side solution.” commented Mireille Dyrberg, COO of Duco. “This recognition is further evidence that Duco has become the de facto industry standard for firms seeking a proven modern and agile approach to replacing outdated spreadsheets and legacy reconciliation technology. By reliably automating heavily repetitive manual processes and legacy technology we enable our customers to handle significantly higher volumes of data at lower costs and all the while freeing up human capital to perform more complex and valuable work.”
‘We’re now taking this a step further, automating all phases of the reconciliation process: data ingestion, setup, matching, exception allocation, investigation and resolution” added Christian Nentwich, “We are working towards a future where manual intervention in the reconciliation process is minimal and replaced by natural language driven rules and/or machine learning. As our client base grows, problems our service has not seen will become increasingly rare, focusing everyone on fixing upstream, systemic issues instead of noise and thereby dramatically improving data quality.”
Duco makes managing data easy.
Duco is a machine learning software and services company that specializes in providing data quality and reconciliation solutions. Its award-winning, cloud native Duco platform is changing the game as to how financial firms approach their most challenging data quality issues. Duco is the only modern, enterprise-grade alternative to costly and inefficient reconciliation legacy systems. It’s self-service technology allows operations professionals to build and manage reconciliation processes from scratch – without any sort of infrastructure project. The platform can be live for a customer within 24 hours with tangible business results in the first week and ROI within the first 30 days. Headquartered in London, with offices in New York, Luxembourg, Edinburgh, Wroclaw and Singapore, Duco’s customers include global banks, brokers, asset managers, exchanges and middle and back office outsourcers.
For more information go to www.du.co