back Back

JBWere NZ selects Duco to strengthen asset control framework

By Leandra Monteiro

April 26, 2023

  • Asset Management
  • Duco
  • Financial Planning
Share

Duco, JBWere NZ Duco, a cloud-based data automation company, announced that JBWere NZ, a New Zealand wealth manager, has chosen the Duco platform to automate cash and asset reconciliations to support the firm’s growth and strengthen its control environment.

JBWere NZ will use Duco to reconcile cash and securities held with their sub-custodians, share registries and banks. Previously they would do this process using individual spreadsheets split by registry, sub-custodian and market. These legacy processes made it time-consuming for the firm to reconcile transactions across multiple financial counterparties each day.

JBWere NZ ultimately chose Duco as business users can quickly build reconciliations without code and without the need for a technology team to support it.

John McDermott, COO at JBWere NZ, said, “Duco is a powerful and flexible software solution that allows us to automate our daily asset and bank reconciliations to quickly and effectively identify and categorise reconciliation breaks. It is sophisticated, scalable, auditable and easy to use. We see potential for so many data validation and comparison tasks across our business. Because of the impressive no-code functionality, reconciliations can be built and owned by the Operations team, without the need for IT support.”

Keith Man, Head of Asia Pacific at Duco, added, “Duco has invested heavily in Asia-Pacific in order to provide the first-class support and service our customers in the region should rightly expect from a global vendor. I’m thrilled that we’ll be part of JBWere NZ’s growth story, and I look forward to working with them to build out the Duco user community in New Zealand over the course of our partnership.”

Previous Article

April 26, 2023

iProov & Authsignal team up to offer enhanced online fraud prevention

Read More
Next Article

April 26, 2023

Fibank offers Metal World Elite Mastercard in Bulgaria

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

The Weekly Wrap: all you need to know by Friday COB | December 6th

Read More

Today

Moneyhub, Marygold & Co UK partner to launch new wealth app

Read More

Today

Valu-Trac adopts Temenos SaaS to scale Fund Administration in the UK

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q3 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More