Doo Group Adopts Automation to Save Time

Doo Group adopts automation to save time, enhance accuracy, streamline reconciliations, and ensure seamless regulatory compliance. Doo Group’s Doo Clearing, a UK-based forex broker and liquidity provider, has joined forces with Aurum Solutions to streamline its reconciliation processes. Moreover, the integration aims to enhance the broker’s compliance with the Financial Conduct Authority’s (FCA) Client Asset Sourcebook (CASS) regulations.

Doo Group Adopts Automation to Save Time

“The benefits of Aurum aren’t just about cost and time savings; the platform has been instrumental in ensuring we meet regulatory requirements and maintain the highest standards of operational integrity,” said Nadine Howard, CEO and Director at Doo Clearing.

“This has given us—and the FCA—confidence that we’re fully compliant and has freed up our team to focus on delivering value for our customers.”

FCA-regulated brokers must conduct accurate and frequent reconciliations of client assets to detect any discrepancies. While this process requires substantial time and effort, companies can still carry it out manually.

Also, Doo Clearing emphasized that integrating Aurum’s solution will cut reconciliation time by 92 percent, saving the company approximately two hours daily.

“Being a small team, we all wear many hats to keep the business running smoothly. Automating our reconciliations has been a game changer in reclaiming valuable time and enhancing productivity,” Howard added.

Doo Group Boosts Efficiency

Aurum Solutions provides reconciliation software that automates routine processes. Its platform also facilitates multi-party reconciliation, enabling three-way reconciliation between operational accounts and client trading accounts while generating detailed reports.

“Manual reconciliation is a major challenge for finance teams,” said Tiago Veiga, CEO at Aurum Solutions. “Particularly for smaller businesses, sifting through financial records manually takes up valuable time that would be better spent on growth and revenue-generating activities. Automating this process achieves a much higher level of operational efficiency and accuracy, which is critical for meeting stringent regulatory requirements like CASS.”

However, the FCA continues to enforce strict reporting standards. Recently, the regulator imposed a fine of approximately £99K on Infinox for inconsistencies in its CFDs transaction reporting.

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