Brightwell selects Duco to automate and consolidate reconciliations

By Gloria Methri

Brightwell, a benefit service provider, has selected Duco, a cloud-based data automation company as part of the firm’s target operating model transformation.

Brightwell manages services to BTPS, one of the largest private sector pension schemes in the UK, and offers funding and fiduciary services, member administration, and advisory capabilities. The company will use Duco in its Investment Operations department to replace an inflexible legacy system that was limiting the firm’s growth.

Duco’s data automation platform will enable Brightwell to normalise its data and consolidate its reconciliations for FX, OTC, and ETD derivatives, fixed income, and cash balances as trading volumes grow. Features such as advanced filters, transaction rollup rules, conditional rules, and the Data Prep module will also help Brightwell reduce the number of exceptions and allow them to build complex matching rules.

Peter James, Chief Investment Administration Officer at Brightwell, said, “Duco enables us to unlock end-user automation, driving down the total cost of ownership, risk, and time-to-value. The flexibility of the platform will allow us to achieve our goal of more streamlined, efficient operations by giving us one system to manage reconciliations for derivatives positions, trades, and cash. Through Duco we gain a volume-agnostic automated process that allows us to be exception-based in our processing which positions us well to support Brightwell’s multi-client growth strategy.”

Christian Nentwich, CEO of Duco, said, “We are delighted to be part of Brightwell’s transformation strategy, which is further evidence of the key role Duco’s technology can play in enabling operating model change. Brightwell can centralise and simplify their processes and utilise the full domain expertise of their teams. The fundamental assumptions around how firms should manage their data are changing, paving the way for more agile, scalable ways of doing business.”