Rabobank approached Duco at the start of 2020. They were embarking on a project to elevate their regulatory reconciliations to bring them in line with their high standards.
Their existing legacy technology was unable to cope with the complexity and scope of their regulatory data. Rabobank has zero appetite for regulatory risk, and so set a self-imposed deadline to improve their MIFID reconciliations.
Rabobank wanted to improve their processes and set a tight deadline for doing so. This meant they needed a system that was fast and flexible. One that could be implemented much quicker than a legacy system or a bespoke in-house solution.
With Duco, Rabobank is able to run reconciliations with over 60 fields and see exactly where breaks are occurring.
Rabobank was able to get up and running with Duco quickly, onboarding 8 highly complex regulatory reconciliations three times faster than the industry average.
“What I really like throughout Duco – from the CEO to the Customer Success team – is that ‘can do it’ mentally. I don’t feel any distance, or any attitude, a true cooperative mind set, just like Rabobank.”
The initial project with Duco was such a ‘huge success’ that Rabobank is looking to increase its use of Duco’s data integrity solution further.
The bank intends to ramp up the migration of reconciliations from their legacy system to Duco. They also have an in-house solution, as well as a small number of manual processes, that they are looking to replace.
Click here to read more about Rabobank’s success with Duco.
