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.

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