Cloud-based, no code platform powers major financial institutions
29 June 2022, Boston – Duco, a leading cloud-based data automation company, today announced the opening of an office in Boston to serve a growing base of clients in North America.
The Boston office, located in the Seaport area of the city, will be led by Chris Stevens, Chief Revenue Officer and General Manager for Americas. Chris joined the company in January after five years at Nasdaq. Eight people currently work in the office and the company plans to grow the footprint to around 20 employees in the near term. Duco now has more than 30 employees based in America out of a global total of 185.
The company chose to add Boston to the company’s existing office in New York because of the region’s depth of financial and technical talent. The company is already working with several local businesses, including some of the world’s largest asset managers along with global capital markets participants who have a presence in the city.
Duco has been growing rapidly in North America – which now represent over 50% of the company’s revenues. A main driver for this growth has been extraordinary levels of client satisfaction. The company has 120% net revenue retention with 36% ACV growth and a 58 Net Promoter Score, all metrics illustrating customers continuing and expanding relationships with Duco, as the company helps them transition their operating model by putting data in the hands of the business users.
Duco CEO Christian Nentwich said: “We at Duco are dedicated to being the best data automation company for mission-critical data. In almost all businesses of significant size today, daily operations involve dealing with mountains of data. We want to be where our customers are – and more and more of them have a presence in Boston. By being on the ground, we’re able to work even more closely with some of the leading names in finance and beyond.”
Chris Stevens said: “As a long-time Bostonian I know this city serves as a major engine for financial and technological innovation. I also know just how many businesses in the region could benefit from the services Duco offers. Duco’s cloud-based, no code platform enables many of Boston’s leading asset management, banking and other financial institutions to solve challenges and meet customer demand in a much more efficient manner.”