Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Duco offers automated reconciliation to Mama Money

Christian Nentwich, CEO of Duco

London-based enterprise data integrity and reconciliation services provider, Duco announced that social business money transfer operator Mama Money has gone live the former’s reconciliation platform. The implementation is expected to allow Mama Money to reconcile payments with cash movements along with the provision of enhanced financial control and operational efficiencies.

Nicolas Vonthron, Chief Operating Officer at Mama Money explained, “Duco’s advanced technology offered us something different compared to other platforms that were not originally designed for the cloud. The deployment was surprisingly quick and we saw an immediate impact on our reconciliation and financial control processes. Duco gives us great flexibility and scalability to grow our volumes without needing additional staff to oversee this time-consuming process.”

International payments company, Mama Money enables customers to send money across 15 African and Asian countries with low fees to fuel financial inclusion. The company, before Duco’s reconciliation solution, leveraged used in-house systems and manual processes for reconciliation.

Christian Nentwich, CEO of Duco concluded, “Mama Money is a disruptive service in the mobile payments market. By bringing cashless money transfers to migrant workers, it is making a real difference in tackling social problems. In an environment where margins are slim, and where transactions go real-time, the value of a cloud-based reconciliation platform that offers rapid deployment, fast time to value and quick ROI is invaluable. We look forward to playing our small part in enabling Mama Money’s service to expand rapidly in the next few years.”

Duco 

Established in 2010, Duco is a machine learning software and services company that specializes in providing data quality and reconciliation solutions. Its platform is an enterprise-grade alternative to costly and inefficient reconciliation legacy systems. Its self-service technology allows operations professionals to build and manage reconciliation processes from scratch – without any sort of infrastructure project.

Related IBS Intelligence Research

Related Posts

NAB

NAB to recruit bankers and advisers for high net wealth clients

National Australia Bank (NAB) announced that it will recruit 50 new bankers and advisers, as part of its new strategy to provide high net wealth clients with a single point of access for their financial needs, ranging from wealth creation, business growth to retirement needs and philanthropic investment. JBWere CEO and leader for NAB Private, […]

This post is only available to members.

Read More »

EQ launches new automated complaints management product

EQ has announced that it is launching a new automated complaints management product for the financial services industry, EQ Complaints Professional. The new solution is expected to enable firms to enforce their FCA compliance immediately as well as continually as regulation changes. Andrew Edler, MD of EQ Charter, commented, “We are delighted to bring this […]

This post is only available to members.

Read More »
bank, FinTech, neobank, smartbanks, challenger banks, Asia

Australia’s big 4 banks welcome the launch of open banking

The Competition and Consumer (Consumer Data Right) Rules went live on July 1, in Australia. This has been welcomed by the big 4 banks of the country – ANZ, Westpac, Commonwealth Bank and NAB where they will be sharing their customers’ data with third parties, when requested by the customer. Angus Sullivan, CBA’s Group Executive […]

This post is only available to members.

Read More »

Lendio facilitates $8 bn in PPP loans to 100,000 small businesses

Lendio, a leading marketplace for small business (SMB) loans, announced that the company has till now facilitated $8 B in Paycheck Protection Program (PPP) loans for 100,000 small businesses. The firm’s partnership with 300 SBA-approved financial institutions and FinTech leaders has helped the company to secure COVID-19 relief funds for several underserved segments of the […]

This post is only available to members.

Read More »