London, 28 September 2017 – Duco, the market’s leading provider of self-service reconciliation solutions, today announced that ING, the global banking and financial services corporation, has chosen Duco Cube to automate a range of processes across wholesale banking operations. This includes cash, trade and position reconciliation, as well as internal system-to-system data controls.
Antoine Vonk, Head of Financial Market Operations at ING, said: “We looked at a number of systems but Duco Cube stood out for its agility, self-service capabilities and SaaS deployment model. It is the only solution that truly empowers our operations team to build and manage reconciliations themselves. With Duco Cube we are able to deliver a new technology strategy, boosting efficiency, transparency and auditability across the firm.”
Christian Nentwich, CEO of Duco said: “We are delighted to be working with ING, a firm that has consistently shown a strong commitment to innovation. We look forward to helping them move to more agile technologies and implement their ongoing digital transformation programme.”
Jeffrey Gangl, Chief Revenue Officer of Duco, added: “Traditional reconciliation systems were built to solve one specific problem. This has led to institutions using a variety of tools for different tasks, resulting in unscalable bespoke practices and deployments with a high total cost of ownership. Duco Cube will enable and accelerate data strategies across ING, leading to higher quality data sets and the ability to extract insights, driving additional business value.”