Duco, a data management automation specialist and recent A-Team Group RegTech Insight Awards winner, has launched an artificial intelligence-powered end-to-end reconciliation capability for unstructured data.
The Adaptive Intelligent Document Processing product will enable financial institutions to automate the extraction of unstructured data for ingestion into their systems. The London-based company said this will let market participants automate a choke-point that is often solved through error-prone manual processes.
Duco’s AI can be trained on clients’ specific documents, learning how to interpret layout and text in order to replicate data gathering procedures with ever-greater accuracy. It will work within Duco’s SaaS-based, no-code platform.
The company won the award for Best Transaction Reporting Solution in A-Team Group’s RegTech Insight Awards Europe 2024 in May.
Managing unstructured data has become a key goal of capital markets participants as they take on new use cases, such as private market access and sustainability reporting. These domains are largely built on datasets that lack the order of reference, pricing and other data formats with which it must be amalgamated in their systems.
“Our integrated platform strategy will unlock significant value for our clients,” said Duco chief executive Michael Chin. “We’re solving a huge problem for the industry, one that clients have repeatedly told us lacks a robust and efficient solution on the market. They can now ingest, transform, normalise, enrich and reconcile structured and unstructured data in Duco, automating data processing throughout its lifecycle.”
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