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UK’s Duco joins Tech Nation’s Future Fifty

Self-service data integrity and reconciliation provider Duco has been chosen to join the UK network Tech Nation’s Future Fifty programme for the country’s high-growth late-stage technology companies.

The Future Fifty programme is a network which has included companies Deliveroo, Skyscanner and Funding Circle, aiming to bring together the most successful tech companies to problem-solve and inspire tech entrepreneurs.

Christian Nentwich, CEO of Duco

Christian Nentwich, CEO of Duco

Duco, which was chosen for the network through a judging process, processes data for over 80 financial institutions and insurance companies and is the only fully cloud-based software as a service (SaaS) offering in its space.

Commenting, Christian Nentwich, CEO of Duco, said: “When Duco first started in April 2013, we were told that a cloud-based service could never get off the ground in finance, let alone succeed. To now be recognised as one of Tech Nation’s Future Fifty companies is testament to both the increased trust in the technology and the determination of the team to prove the doubters wrong.

“It demonstrates that the finance sector is now fully embracing the potential of a cloud-based service to aggregate, validate and reconcile data, and is increasingly using intelligent systems for on-demand data integrity and insight.”

The company cleans up and reconciles the data using machine learning and ensures it is safe, reducing operational risk, cost and enabling firms to focus on using data for revenue growth. The firm announced a $28 million Series B investment in 2018 and is now processing one billion data records every four business days for its clients.

In Future Fifty, Duco joins a number of companies within FinTech, cybersecurity, AI and digital entertainment, including Atom, Blockchain and the biggest challenger banks, with which it will share best practice and support growth.

The network also allows Duco to take part in c-suite roundtables and workshops, as well as give the company access to the government through sessions with key officials and ministerial events.

Nentwich added: “To be able to share best practice and learn from peers that have been recognised as some of the UK’s most successful and innovative digital companies will help support our own growth plans, as we continue to support the financial sector on its journey to better control of its data.”

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