LONDON--(BUSINESS WIRE)--Duco, the global fintech provider of data control services, today announced a new engagement with World First, the international payments company. World First will use Duco Cube, the award-winning self-service data control platform, to automate a variety of tasks across treasury and middle office functions.
By using Duco Cube, World First staff are able to streamline reconciliation processes across a number of banks and currencies, reducing the time spent on daily reconciliations by over 80%. Control has also increased, with Duco Cube’s unique ‘natural language’ system providing enhanced granularity and transparency over matching rules.
‘We are delighted to announce this agreement with World First, another dynamic fintech firm,’ said Christian Nentwich, CEO of Duco. ‘In this case, we are helping a company that is already using intelligent technology to streamline payments processes to become even more efficient. As we continue to build our footprint in the payments space, it is clear we can provide great value to this industry.’
Faye Marshall, Group Treasurer of World First, added: ‘We have been particularly impressed with the flexibility of Duco Cube and the speed with which we were up and running. The platform was able to handle complex data straight out of the box, enabling our operations teams to start setting up controls themselves with minimal training. Duco Cube also ensures all our processes are automated and scalable, which is essential for an expanding business like World First.’
‘At Duco we provide our customers with the tools to deal with a wide range of complex data problems’, said Jeffrey Gangl, Duco’s Chief Revenue Officer. ‘Duco Cube is data agnostic, meaning our customers can use it for control functions across the business, while adapting quickly to changing market requirements. It also enables us to provide solutions across multiple industry verticals, and the payments industry is an important and growing part of our vision. Our alignment with World First enables us to build on the foundations we have established in this industry, and deliver an innovative solution to the market.’
About Duco
Duco is changing the way the world controls its data. Its award-winning hosted platform, Duco Cube, enables firms to control complex data using light-touch, self-service technology. Duco is currently working with a range of financial firms including international banks, brokers, exchanges, hedge funds, asset managers and payments companies. Headquartered in London, with offices in New York and Luxembourg, Duco serves clients throughout Europe, the United States, Africa, Asia, the Middle East and Australia.
About World First
World First is a market-leading, award-winning, rapidly-growing international fintech business. Expert in international currencies and money transfer, World First combines specialist knowledge of foreign exchange markets with technological innovation to help individuals and businesses manage cross border currency payments quickly, securely and transparently. A specialist alternative to traditional banks’ generalist approach, World First has successfully exchanged more than £45bn for over 110,000 individuals and businesses since 2004. World First’s corporate and e-commerce desks enable SMEs and online marketplace traders to expand internationally via a specialist and personalised service proposition and bespoke technology. We call these businesses ‘mini-multinationals’.
World First employs over 600 people across 6 international offices in London, Amsterdam, Sydney, Austin-TX, Singapore and Hong Kong with plans for further expansion into new countries. World First has strategic partnerships with over 20 businesses including Virgin Money, Harrods Bank, and News International. World First has licences to service clients in over 45 countries.