Brightwell picks Duco for operational transformation
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Brightwell picks Duco for operational transformation 27 September 2023UK Reporter: Jenna Lomax
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Defined benefit service provider Brightwell has selected Duco's platform to transform its operations model.
Brightwell will utilise Duco’s services to replace an inflexible legacy system in its investment operations department. The company says the legacy system lacks the functionality needed to handle the variety of use cases and the volumes of data they needed to process.
Duco’s data automation platform will enable Brightwell to normalise its data and consolidate its reconciliations for FX, OTC and exchange-traded derivatives, as well as for fixed income and cash balances.
The platform features filters, transaction rollup rules, conditional rules and a data prep module to help Brightwell reduce its number of exceptions. It will also allow Brightwell to build complex matching rules and decrease the number of false positives.
Duco is a data automation company headquartered in London, with offices in New York, Boston, Wroclaw and Singapore. Its other customers include global banks, such as Société Générale.
Peter James, chief investment administration officer at Brightwell, comments: “The flexibility of the platform will allow us to achieve our goal of more streamlined, efficient operations by giving us one system to manage reconciliations for derivatives positions, trades and cash.
“We can use it to consolidate formerly disparate manual tasks across instruments into single processes, giving us scalable and transparent controls and enhanced auditability as we grow.”
Christian Nentwich, CEO of Duco, says: “Brightwell can centralise and simplify [Brightwell’s] processes and utilise the full domain expertise of their teams. The fundamental assumptions around how firms should manage their data are changing, paving the way for more agile, scalable ways of doing business.”
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