Duco, the global FINtech provider of data control services, has announced a commercial agreement with Societe Generale Bank & Trust (SGBT), a wholly-owned subsidiary of Societe Generale based in Luxembourg. SGBT plans to use Duco Cube, a self-service data control platform, to automate a number of key processes, including securities, cash and internal system-to-system reconciliations.
"We are very pleased to be working with Societe Generale, who have a track record of sponsoring innovation initiatives," said Christian Nentwich, CEO of Duco. "This agreement is significant as it proves our cutting-edge technology, provided through Software as a Service, can transform data control processes at organizations such as SGBT. It is also the next step in Duco's global roll-out, providing an additional option for our customers in the Eurozone."
Both firms are committed to transforming the industry by using intelligent technology. Last year Societe Generale participated in the Accenture FINtech Innovation Lab in the UK, while Duco was previously selected for the Innovation Lab as part of an elite group of technology firms focused on the evolution of the industry through innovation.
Yves Dupuy, Chief Information Officer at SGBT commented: "Duco Cube represents a new, transformative approach to data management and control that aligns with our forward-thinking culture. With Duco Cube, we can set up and automate a variety of processes with ease, without major development projects. The technology also introduces an additional degree of control, transparency and auditability across our business."
Jeffrey Gangl, Duco's Chief Revenue Officer, added: "We look forward to working closely with SGBT. As Duco continues to introduce new innovation to the market, we rely on forward-thinking organizations such as SGBT to help us shape the future of the industry. Our relationship enables both companies to scale quickly, address new challenges, and pave a path to industry change."