Duco, the new hosted reconciliation and analytics service provider, today announced the selection of JDX Consulting (JDX), the financial services consulting group, as their preferred resourcing partner for their Duco reconciliations service.
Jonathan Davies, CEO of JDX comments, ‘We specialise in providing skilled staff to the finance community for remediation projects. We are increasingly working with our clients on time critical and high risk areas, such as Transaction Reporting (TR) and Delegated Reporting (DR), resulting from the ongoing EMIR and Dodd Frank regulatory demands. Given the large volume of data being moved on a daily basis between industry participants to support these reporting regulations, the need to combine fast, agile and flexible reconciliation technology with skilled remediation resources is critical. This has led us to work with clients such as Duco and their Duco Cube platform.”
‘In many instances, buy and sell side users, and the TR’s themselves, are struggling to find the right resources in terms of knowledge and technology as a combined service for fast data transformation, remediation and reporting issues. With the daily increase and build-up of data, spreadsheets are becoming areas of high risk and old legacy systems are just too slow and inflexible to both ‘put out fires’ and then build a reliable, auditable platform for the future. Banks and buy-side users still have to run their businesses with this increasing overhead of regulation and together, Duco and JDX offer a fast to market, knowledge, skills and technology option.’ adds Christian Nentwich, CEO of Duco.
JDX has over 200 trained consultants and a growing reputation for TR and DR success in a wide range of financial institutions and the Duco Cube hosted service is available within hours with valuable reconciliation results available in days not months. It is this combination of fast, skilled, pragmatic remediation services that the industry needs in this increasingly complex andcomplicated area of regulatory demands.
