Duco, the worldwide pioneer in the cloud-based enterprise, data integrity, and new generation reconciliation services, recently declared that Mama Money, the world’s first social business cash transfer operator, has associated itself with the Duco reconciliation platform.
After a detailed market assessment, Mama Money selected Duco, dependent on its self-service automation abilities, adaptability, and the potential for quicker impact. This solution empowers Mama Money to precisely reconcile payments with cash operations.
Chief Operating Officer at Mama Money, Nicolas Vonthron, said that,
Duco’s advanced technology offered us something different compared to other platforms that were not originally designed for the cloud. The deployment was surprisingly quick and we saw an immediate impact on our reconciliation and financial control processes. Duco gives us great flexibility and scalability to grow our volumes without needing additional staff to oversee this time-consuming process.
Mama Money is the fastest developing global payments organization that empowers individuals to send money to 15 nations over Africa and Asia with low fees as 3 percent to develop financial integration and to help eradicate poverty.
Moreover, sending cash to Africa is the most costly issue on the planet, with major banks charging fees as much as 20 percent or more. Earlier, Mama Money utilized in-house frameworks and manual procedures to perform important reconciliations.
CEO of Duco, Christian Nentwich stated that,
Mama Money is a disruptive service in the mobile payments market. By bringing cashless money transfers to migrant workers, it is making a real difference in tackling social problems. In an environment where margins are slim, and where transactions go real-time, the value of a cloud-based reconciliation platform that offers rapid deployment, fast time to value and quick ROI is invaluable. We look forward to playing our small part in enabling Mama Money’s service to expand rapidly in the next few years.
Mama Money has developed a mobile technology, which permits users to register and start sending money within 24 hours over Africa and Asia by utilizing only their phones. Besides, Duco is a Machine learning services and software organization that provides services in reconciliation and data quality solutions.