Societe Generale agrees to deploy Duco’s platform
London-based data management firm Duco has partnered with France’s Societe Generale to deploy its Software-as-a-Service (SaaS) platform across the banking group for reconciliation and data control.
“The advantages of SaaS and self-service solutions in the reconciliation space are clear and we are glad that Societe Generale shares our vision,” states Christian Nentwich, CEO of Duco.
Societe Generale will use Duco’s platform to automate key reconciliation processes across all business areas, aiming to improve efficiency compared to legacy systems and spreadsheet-based processes.
It will also use Duco’s API to provide external reconciliation services to its clients in the capital markets business, to support its trade execution and clearing services.
Fintech Futures recently reported that Societe Generale launching its Global Markets Incubator, dedicated to fintechs specialising in market activities.
Also, Societe Generale recently acquired core banking, ID verification and card supplier Treezor, subject to approval by the French regulator ACPR.