KUALA LUMPUR, Oct 9 (Bernama) – Societe Generale, the French bank and global provider of financial services will deploy Duco’s platform as one of its primary reconciliation and data control systems.
The London-based enterprise software as a service company,Duco said in a statement, the platform will help support Societe Generale’s in reinventing operations functions to provide better insights, enhance customer service and improve data governance.
The French bank will be able to automate key reconciliation processes across all business areas, dramatically improving efficiency compared to legacy systems and spreadsheet-based processes.
According to the statement, Duco’s API will provide external reconciliation services to its clients in its capital markets business, adding value to its trade execution and clearing services.
Chief Executive Officer of Duco, Christian Nentwich said: “With machine learning and cloud-based delivery models now ready for prime time, the industry is rapidly going through a major transformation towards agile services like Duco that mutualise cost and remove unnecessary manual work.
Global Head of Reconciliation Post Trade in Societe Generale Global Banking and Investor Solutions, Estelle Letribot said innovation and digital transformation are core to their strategy, both internally and 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,” Letribot added.
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. More details on www.du.co
-- BERNAMA
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