Tag: Duco

Duco

SocGen Adopts Duco Reconciliation Tech

Societe Generale (SG) plans to deploy Duco’s enterprise software as a service (SaaS) platform across its business as one of its primary reconciliation and data control systems.

SG will use Duco’s platform to automate key reconciliation processes across all business areas, dramatically improving efficiency compared to legacy systems and spreadsheet-based processes.

Estelle Letribot, global head of reconciliation post-trade in SG global banking and investor solutions, says: “Innovation and digital transformation are core to Societe Generale’s strategy, both internally and for our clients. By working with Duco, we have an opportunity to reinvent our operations, introducing agility, automation and machine learning in a function that has traditionally proved very expensive and time consuming.”

Duco Appoints Dyrberg as COO

Data engineering company Duco has named Mireille Dyrberg as chief operating officer, assuming responsibility for customer success, all administrative functions, finance and legal.
Dyrberg joins from NEX Group’s TriOptima, where she was chief operating officer and previously CEO of EMEA. The appointment follows a recent $28m funding round for Duco.
Prior to joining TriOptima Dyrberg was the global business manager for Rates at Dresdner Kleinwort, before which she held a series of operations leadership roles both in London and Frankfurt.

Duco Secures $28m Investment

Duco, a data engineering technology company, has completed a $28m investment round by Insight Venture Partners, Nex Opportunities and Eight Roads Ventures. The round also includes an investment by entrepreneur and former CEO of SunGard, Cristóbal Conde.

Duco provides technology that enables banks, brokers, asset managers and exchanges to normalise, validate and reconcile any type of data in Duco’s cloud, providing firms with on-demand data integrity and insight.

Duco says that it will use the investment to expand its global footprint, with headcount growth in Europe and the US, the launch of an Asia office and an expansion of its product set.

Conde Named as Duco Advisor

Duco, a provider of self-service data normalisation and reconciliation services, has announced that Cristóbal Conde has joined as an advisor to the CEO and board of directors. Conde had a 24-year career at SunGard, culminating in him running the firm as CEO, building it into a Fortune 500 company and making it the largest privately-held software and services company in the world. He is currently an advisor and non-executive director at several technology firms challenging the status quo, including OpenGamma, Digital Asset, Callsign and Digital Reasoning.

Currencycloud Turns to Duco

Currencycloud, an international payments engine, has announced that it will use technology from Duco, a fintech that provides data control services for a variety of operational functions including cash, trade-to-cash, and bank cash flow reconciliations.

“We are excited to be working with an innovative firm focused on using technology to drive change across the industry – which is also one of Duco’s core missions,” says Christian Nentwich, CEO of Duco. “Currencycloud’s payment engine streamlines processes, reduces manual intervention and cuts inefficiencies in currency transfers, which is exactly what we are achieving for firms in the data control space.

Duco Streamlines Fee Processes for CME Members

Duco Technologies will offer its data control and reconciliation services to CME Group members starting January 2017, the two firms announced.

The launch follows a six-month trial period with a limited number of futures commission merchants (FCMs).

Duco’s service is designed to enable CME member firms to simplify processes around fee structures without investing in infrastructure or IT resources.

CME chief commercial officer Bryan Durkin comments: “We’re pleased to offer our member firms an innovative solution to help streamline their current fee processes. Duco’s service will reduce manual work, drive efficiency and ensure accuracy between parties.”