Christian Nentwich, PhD, CEOData has become a currency for organizations of all sizes and across all industries. Businesses have a need to collect and process countless data points scattered among multiple, often disparate systems. However, a lack of standards and a proliferation of systems has made it increasingly difficult for companies especially in the financial services sector to normalize, analyze and reconcile complex data in a cost-efficient way. Firms often fall back to manual processes, which creates an opaque, difficult-to-audit environment fraught with operational risk.
Founded in 2010, Duco is working to reshape the way organizations handle their data, by empowering users with self-service tools. By using the company’s flagship SaaS platform Duco Cube, individual users in any firm can quickly automate a range of data normalization, reconciliation and system migration tasks. Dr. Christian Nentwich PhD, CEO of Duco, explains, “Instead of further adding to an IT backlog, middle and back office experts, key IT architects and business users can solve data issues themselves using Duco Cube. We take away the need for siloed legacy platforms and inefficient manual or spreadsheet-based workarounds, increasing the overall agility of the business.” Companies in the financial services realm can take advantage of Duco’s light-touch, flexible offering to pinpoint and quickly address data issues wherever they appear. In addition, once firms have used Duco Cube to clean up their data, it can be used strategically to provide insights and drive revenue growth.
Unlike many data management systems, Duco Cube was built to be data agnostic. This means it can solve a wide range of issues within an organization. Any data stuck in legacy systems can be quickly normalized and made available for analytics applications; system migration needs are drastically simplified with its use; and it allows for older reconciliation systems to be consolidated onto a single platform.
The key to Duco Cube’s success is not to be hard-coded to any one scenario, but to intelligently adapt to the data provided
Dr. Nentwich states, “The key to Duco Cube’s success is not to be hard-coded to any one scenario, but to intelligently adapt to the data provided. The platform is just as applicable to healthcare, ecommerce and insurance as it is to investment banking. Wherever there are large complex data challenges, Duco Cube can help.”
Due to the broad applicability of its solutions, Duco works with customers across a variety of industry verticals. Clients include major banks who have saved millions in operational costs by replacing their existing manual processes and legacy platforms with Duco Cube. In addition, large asset managers and hedge funds use the platform to introduce greater operational controls, while driving analytics and alpha generation. Other customers in the financial industry include fund administrators, brokers, exchanges, payments firms and service providers, using Duco Cube for a range of challenges from data integrity issues to strategic innovation initiatives.
Duco has more than doubled its growth year over year since its creation, and Dr. Nentwich is confident this trend will continue. “We have the ability to go live with any institution in just 24 hours, enabling our clients to realize a rapid return on investment. Duco is focused on driving innovation and providing adaptive technology solutions so that our customers can extract greater value from their data and introduce competitive advantages.”