Duco, a London-based fintech provider of hosted reconciliation services, today announced the establishment of its European regional headquarters in Luxembourg as the next step in its global expansion plans. The move follows the opening of Duco’s North American regional headquarters in September and continued investment in its global base in London.
Duco Chief Executive Officer and Co-Founder Christian Nentwich, Ph.D., said: “Following a very successful 18-month growth period where we built our client base from zero to 28 financial and
service organizations, the recent significant ‘series B’ investment by ICAP and the establishment of our
New York office, expanding further into Europe was the logical next step.”
Michael Marconi, Duco Chief Technology Officer and Co-Founder, said: “Luxembourg is an ideal location for Duco given its importance as a hub for many financial institutions, particularly as a
recognized centre of excellence in post-trade administration, middle- and back-office and accounting
operations. We anticipate that our Duco Cube reconciliation platform will be very well received in this
community and in the neighbouring European states, as firms look to embrace new technologies to
improve control functions, reduce cost, ensure regulatory adherence and improve end customer
The new office will be staffed for sales, client support and marketing across the northern European region and as a network point for global client support.
Duco is a technology company focused on simplifying complexity by employing advances in computer
science research. Its award-winning hosted reconciliation service, Duco Cube, enables firms to control
complex data using light-touch, self-service technology. In the last 12 months, Duco Cube has
reconciled more than one billion transactions. Duco won the 2014 FOW International Award for “Best
New Product – Reconciliation” and was one of only seven firms chosen to participate in the prestigious
2015 FinTech Innovation Lab in London. Financial News named Duco CEO Christian Nentwich to its
“40 Under 40 Rising Stars of Trading and Technology” as well as its “40 leaders in fintech” list of
individuals who “display influence or innovation in the emerging financial technology ecosystem.”
Headquartered in London, Duco serves clients throughout Europe, the United States, Africa and Asia.