Virtus Partners LLC Reduces Reconciliation Build Time by 85% with Duco Cube
New York: Duco, a global data engineering technology company, today announced a new engagement with Virtus Partners LLC, a provider of alternative investment administration services and operations outsourcing. Virtus Partners will use Duco’s data reconciliation platform “Duco Cube” to support daily, weekly, and monthly cash, trade and position reconciliations across a broad range of products including bonds, loans and complex credit derivatives.
Duco Cube enables Virtus Partners to scale quickly and meet the needs of a growing global operations team, without any IT dependencies. Within the first two months following on-boarding and training, Virtus Partners’ operations staff built an average of four reconciliations per day.
Eric Lokker, Senior Director of Corporate Strategy at Virtus Partners said, “We chose Duco Cube because its self-service and cutting-edge SaaS technology really suited us. The time we spend constructing a single reconciliation has been significantly reduced, cutting out over 85% of the total time to build both simple and complex reconciliations. Accuracy has increased, as has overall productivity. This has been a significant benefit to our business.”
Christian Nentwich, CEO of Duco, added, “We are pleased to be working with Virtus on providing an excellent service in reconciliations to their customers while protecting their cost base as volumes ramp up. Operations in the loan and credit markets in particular, cause issues for hardcoded legacy reconciliation systems, which make it a perfect case for a more flexible, self-service, control setup.”
By Chris Tjotjos, VP, Cisco Solutions Practice, Black Box...
By Laura Jackson, Sr. Manager-Risk Management, ABS Consulting
By Jason Cradit, VP of Information Systems, Willbros Group
By Steve Garske, Ph.D., Senior Vice President & Chief...
By Roman Trakhtenberg, CEO, Luxoft
By Renee P Wynn, CIO, NASA
By Mike Morris, CIO, Legends
By Louis Carr, Jr., CIO, Clark County
By Andrew Macaulay, CTO, Topgolf Entertainment Group
By Dominic Casserley, President and Deputy CEO, Willis...
By Dave Nelson, SVP-Portfolio Lead, Avanade, Inc.
By Michael Cross, SVP & CIO, CommScope Holding Company Inc.
By Pauly Comtois, VP DevOps, Hearst Business Media
By Dan Adam, CIO, Extreme Networks
By Matt Schlabig, CIO, Worthington Industries
By David Tamayo, CIO, DCS Corporation
By Scott Cardenas, CIO, City and County of Denver
By Marc Kermisch, VP & CIO, Red Wing Shoe Co.
By Brian Drozdowicz, VP, Digital Services, Siemens...
By Les Ottolenghi, EVP and CIO, Caesars Entertainment