Canadian fintech Koho taps Duco for data reconciliation platform
Canadian fintech Koho Financial has partnered with data automation firm Duco to centralise its reconciliation processes and improve auditability.
Koho taps Duco for data reconciliation platform
London-based Duco’s platform allows Koho to reconcile payment transactions between its general ledger and an internal system, as well as against bank statements, allowing Koho to cut costs, reduce the time spent identifying mismatched transactions, improve data quality and lower its operational and audit risk.
The firm’s previous solution required knowledge of Structured Query Language (SQL) in order to build reconciliations, often generating false exceptions, piling on risk for the business and pulling away resources from other matters.
Koho’s finance operations teams can now determine data quality controls internally, without the need for tech support.
Saurabh Sharma, Koho’s senior payments operations analyst, says Duco’s platform benefits from straightforward reconciliation processes, an “excellent” user interface and transparent audit options, allowing non-technical individuals to create and run reports.
Duco CEO Christian Nentwich says giving internal subject matter experts the ability to build data controls “creates an agile, streamlined middle and back office and removes the support burden from IT, who have bigger priorities to focus on”.
