Duco collaborates with Phoenix Group for its asset management division
16 December 2025 UK
Image: Viktor/stock.adobe.com
Duco, a provider of AI-powered operational data automation, has announced a collaboration with Phoenix Group — a long-term savings and retirement businesses — to modernise reconciliation infrastructure, empower operational teams, and scale efficiently across its asset management division.
The firm says that this project will create a unified, cloud-based environment for reconciling investment and accounting records across 20 administrators and multiple asset classes.
By simplifying these critical workflows, Phoenix aims to strengthen controls, reduce manual intervention, and give its teams greater ownership of daily operations.
The initial phase will focus on automating reconciliation between Investment Book of Record (IBOR) and Accounting Book of Record (ABOR) data, ensuring consistent, auditable controls and alignment with European Market Infrastructure Regulation (EMIR) standards.
Philip Shaw, chief operating officer of asset management at Phoenix Group, says: “Bringing our reconciliation infrastructure to the cloud is a key part of our operational strategy. With Duco, we can manage change more quickly, reduce reliance on IT support, and establish a consistent model for how data is reconciled across the business.”
“The relationship with Duco has been open and collaborative from the start. We value the team’s understanding of our environment and their commitment to helping us build a system that supports future growth.”
Michael Chin, CEO of Duco, adds: “Phoenix Group represents the kind of institution Duco was made for: complex operations, multiple data sources, and a clear drive for efficiency and control. We’re delighted to support them in building a reconciliation platform that’s fit for the next decade.”
The firm says that this project will create a unified, cloud-based environment for reconciling investment and accounting records across 20 administrators and multiple asset classes.
By simplifying these critical workflows, Phoenix aims to strengthen controls, reduce manual intervention, and give its teams greater ownership of daily operations.
The initial phase will focus on automating reconciliation between Investment Book of Record (IBOR) and Accounting Book of Record (ABOR) data, ensuring consistent, auditable controls and alignment with European Market Infrastructure Regulation (EMIR) standards.
Philip Shaw, chief operating officer of asset management at Phoenix Group, says: “Bringing our reconciliation infrastructure to the cloud is a key part of our operational strategy. With Duco, we can manage change more quickly, reduce reliance on IT support, and establish a consistent model for how data is reconciled across the business.”
“The relationship with Duco has been open and collaborative from the start. We value the team’s understanding of our environment and their commitment to helping us build a system that supports future growth.”
Michael Chin, CEO of Duco, adds: “Phoenix Group represents the kind of institution Duco was made for: complex operations, multiple data sources, and a clear drive for efficiency and control. We’re delighted to support them in building a reconciliation platform that’s fit for the next decade.”
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