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Duco Launches Reconciliation for Unstructured Data
Duco, the leading enterprise platform for data automation, today announces the launch of its end-to-end reconciliation capability for unstructured data. This addresses a major pain point for capital markets firms by enabling them to automate the extraction and processing of unstructured data formats. Doing so will unlock enormous efficiencies and cost savings by removing the need for multiple point solutions and slow, risk-prone manual keying of data between systems.
Duco’s Adaptive Intelligent Document Processing (AIDP) uses proprietary AI to power customised, supervised models, trained on clients’ specific document types and improved through human interaction. The AI learns from context to interpret layout and text. It does not simply memorise data, instead it continually learns from human interaction to avoid making the same mistakes over and over again. It comprises an innovative multi-task learning model which allows clients to use one model across multiple projects, avoiding the need to train on hundreds of documents for each project. Data is extracted from PDFs, scanned images, emails, Word documents and more. It can then be amalgamated with structured data with Duco’s data preparation capability and fed into reconciliations, removing manual rekeying and ETL point solutions.
Michael Chin, Chief Executive Officer, Duco, commented: “I am very excited about reaching this first major milestone in our integration plan following the acquisition of adaptive Intelligent Document Processing innovator Metamaze in February this year. Our integrated platform strategy will unlock significant value for our clients. 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. They also benefit from Duco’s true no-code, SaaS advantage, as well as our security credentials. Our clients have been very enthusiastic about this new offering, with some already signed-up to automate complex reconciliation use cases and who are going live this summer .”
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