Duco Cube Data Platform enables analytics, reporting, machine learning through a Hadoop-based big data infrastructure

Duco announced Thursday launch of the Duco Cube Data Platform. This extension of Duco Cube, the cloud-based normalization and reconciliation system, enables users to access up to ten years’ worth of results and exception data via a Hadoop-based big data infrastructure.

Clients can connect in-house or third-party tools, such as Tableau, Power BI and QlikView, for monitoring, trend analysis, reporting and analytics. Three customers are already live on the platform.

Duco provides self-service data engineering in the cloud. We empower users to normalize, validate and reconcile any type of data on demand. New clients are live in 24 hours, with results in 7 days and tangible business value in 30 days. Customers include international banks, brokers, exchanges, asset managers, hedge funds, administrators, service providers and corporates.

Headquartered in London, with offices in New York and Luxembourg, Duco serves clients throughout Europe, North America, Africa, Asia, and Australasia.

Financial institutions of all sizes are spending significant time and effort to try to break down data silos and extract value from their data. Operational processes such as reconciliation provide a particularly valuable source of data, as it is regularly cleaned and signed off for audit purposes.

The Duco Cube Data Platform captures amounts of data that are practically unlimited for most businesses and is a key enabler for strategies that involve real-time analytics, continuous operational improvement and machine learning.

Duco’s clients can now access data that was previously siloed in spreadsheets, legacy systems, geographies, external counterparties or proprietary networks such as SWIFT, without complicated infrastructure projects.

“One great way to unlock operational efficiency is to make access to data as easy as possible, empowering analysts and architects to derive more value,” said Douggie Melville-Clarke, head of Duco’s Labs department. “We believe strongly in a best-of-breed approach to building the financial institutions of the future, so we created a highly-scalable, turn-key platform for data analytics. In the reconciliation space, the Duco Cube Data Platform outscales anything available today, with an ability to handle hundreds of billions of records, and go live in 24 hours without any client projects.”

“We worked closely with our clients to build the Duco Cube Data Platform and this launch follows a multi-month early access program with customers around the globe,” said Jeffrey Gangl, Duco’s Chief Revenue Officer. “Those using the platform are already seeing significant business value from analyzing their patterns of operational behavior, the operational efficiency of their counterparties, and their underlying data. Most importantly, they are able to do it all via self-service, just like they use Duco Cube today.”

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