LONDON, 5 November 2015 Duco, a London-based fintech provider of hosted reconciliation services, today announced the establishment of its European regional headquarters in Luxembourg as the next step in its global expansion plans. The move follows the opening of Ducos North American regional headquarters in September and continued investment in its global base in London.
Duco Chief Executive Officer and Co-Founder Christian Nentwich, Ph.D., said: Following a very successful 18-month growth period where we built our client base from zero to 28 financial and service organizations, the recent significant series B investment by ICAP and the establishment of our New York office, expanding further into Europe was the logical next step.
Michael Marconi, Duco Chief Technology Officer and Co-Founder, said: Luxembourg is an ideal location for Duco given its importance as a hub for many financial institutions, particularly as a recognized centre of excellence in post-trade administration, middle- and back-office and accounting operations. We anticipate that our Duco Cube reconciliation platform will be very well received in this community and in the neighbouring European states, as firms look to embrace new technologies to improve control functions, reduce cost, ensure regulatory adherence and improve end customer service.
The new office will be staffed for sales, client support and marketing across the northern European region and as a network point for global client support.
Duco is a technology company focused on simplifying complexity by employing advances in computer science research. Its award-winning hosted reconciliation service, Duco Cube, enables firms to control complex data using light-touch, self-service technology. In the last 12 months, Duco Cube has reconciled more than one billion transactions. Duco won the 2014 FOW International Award for Best New Product Reconciliation and was one of only seven firms chosen to participate in the prestigious 2015 FinTech Innovation Lab in London. Financial News named Duco CEO Christian Nentwich to its 40 Under 40 Rising Stars of Trading and Technology as well as its 40 leaders in fintech list of individuals who display influence or innovation in the emerging financial technology ecosystem. Headquartered in London, Duco serves clients throughout Europe, the United States, Africa and Asia.