Duco, the global provider of self-service data integrity and reconciliation services, has been included in the latest cohort of Tech Nation’s Future Fifty programme, an exclusive network of high-growth, late-stage UK technology companies.
The Future Fifty programme – which includes Deliveroo, Skyscanner and Funding Circle among its alumni – brings together some of the country’s most successful tech companies, to problem-solve with peers and inspire the next generation of tech entrepreneurs.
Duco – which was founded in 2013 and now processes data for over 80 financial institutions and insurance companies – was chosen following a rigorous judging process, and joins innovative tech companies from fintech, cyber security, AI and digital entertainment as part of a peer-to-peer community to share best practice and support growth. Being part of Future Fifty will also see the company take part in c-suite roundtables and workshops led by global experts, and have access to government through sessions with key officials and exclusive ministerial events.
The only fully cloud-based, Software as a Service (SaaS) offering in its space, Duco empowers business users to work with complex data directly. It 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. In 2018, the firm announced a $28m Series B investment, and is now checking the integrity of one billion data records every four business days for its clients.
Christian Nentwich, CEO of Duco comments, “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.
“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.”