The Duco Cube Data Platform will allow users to access up to ten years’ worth of results and exception data.
Data engineering company Duco has announced the availability of the Duco Cube Data Platform. Designed as an extension of their cloud-based normalization and reconciliation system Duco Cube, it will allow users to access up to ten years’ worth of results and exception data. This is accomplished via a Hadoop-based infrastructure. Users can connect on-site or via third party tools like Power BI, QlikView and Tableau and access analytics, reporting and monitoring tools.
Douggie Melville-Clarke, head of Duco’s Labs department, said, “One great way to unlock operational efficiency is to make access to data as easy as possible, empowering analysts and architects to derive more value. We believe strongly in a best-of-breed approach to building the financial institutions of the future, so we created a highly-scalable, turn-key platform for data analytics. In the reconciliation space, the Duco Cube Data Platform outscales anything available today, with an ability to handle hundreds of billions of records, and go live in 24 hours without any client projects.”
The company says financial institutions spend large amounts of time and effort to extract value from their data, and processes such as reconciliation provide especially valuable data needed for audit purposes. The Duco Cube Data platform can collect unlimited amounts of data for real-time analytics, improved operational efficiency, and machine learning. Through the platform, customers can access previously siloed data from a variety of sources including legacy systems, proprietary networks, and external partners.
“We worked closely with our clients to build the Duco Cube Data Platform and this launch follows a multi-month early access program with customers around the globe. Those using the platform are already seeing significant business value from analyzing their patterns of operational behavior, the operational efficiency of their counterparties, and their underlying data. Most importantly, they are able to do it all via self-service, just like they use Duco Cube today,” said Jeffrey Gangl, Duco’s Chief Revenue Officer.