Focus expansion for the Boardwalk Velocity
Product into Financial Services Sector
CUPERTINO, Calif., June 11,
2024 /CNW/ - (TSXV: BWLK) (OTCQB: BWLKF) -
Boardwalktech Software Corp. ("Boardwalktech" or the "Company"), a
leading digital ledger platform and enterprise software solutions
company, and UST, a leading digital transformation
solutions company with operations in more than 30 countries and
over 33,000 employees, are pleased to announce that the companies
have entered into a teaming agreement with a shared focus on the
banking and financial services industry.
Under the terms of the agreement, UST will provide
introductions, consulting, and professional services in the banking
and financial services market for Boardwalktech's Velocity product.
Velocity provides a platform for financial institutions, hedge
funds, and private equity firms of all sizes, to rapidly remediate
and transform their Excel and Access based End User Computing
("EUC") environments into a compliant, auditable, and scalable
solution.
"UST is one of the most experienced and
knowledgeable firms focused on digital transformation in the
banking and financial services industry. We are honored to be
teaming with UST to deploy the Boardwalk Velocity and Unity Central
solutions with a focus on process execution improvement, analytics,
risk and compliance for large global financial instutiutions,
private equity firms, and hedge funds, " said Andrew T. Duncan, CEO of Boardwaltkech.
"We are thrilled to partner with Boardwalktech to provide
comprehensive end-to-end professional services and focus on joint
go-to-market solutions that create value for our clients. UST seeks
to collaborate with visionary leaders like Boardwalktech to forge
collective transformative strategies and solutions that empower
clients to overcome pressing business challenges. At a time when
regulatory scrutiny is increasing and more stringent compliance
measures are being implemented, UST is helping firms navigate these
uncertainties by adopting cutting-edge technologies such as digital
ledgers as well as adopting partnerships that help improve controls
by providing real-time monitoring and strengthen compliance across
the entire enterprise," said Maureen
Doyle-Spare, Head of Banking & Financial
Services, UST.
According to IT partners and financial services
customers using Velcoity, they have reported a 10x superior
perfomance (in terms of time to deploy and cost to remdiate mid and
highly complex EUCs) versus alternative software soltuions
currently available in the market. Poorly integrated and
non-compliant EUCs pose a massive risk managment and compliance
issue for banks. Financial institutions utilize thousands of
Excel and Access based EUC's for financial and performance models
along with reporting trackers that must be transformed into an
environment to mitigate and manage captial risk, while being
compliant with OCC and Dodd-Frank risk modeling requirements. By
leveraging Velocity's unique data architecture, financial
institutions can rapidly transform these EUCs Velocity's compliant
data management platform. These tranformations can be completed
faster and with minimal impact to the end users' day-to-day
operations, all while preserving user reliance on the Excel
experience and their existing EUCs.
Velocity has an innovative and patented capability to convert
Excel data and models into a a full three-tier application stack by
absorbing the Excel data/model. Velocity then allows the end user
to interact with the data using an innovative "Excel Browser"
feature. This feature ensures secure data access by dynamically
downloading access-controlled data upon authentication, then wipes
the data clean from Excel memory upon closing the file, thus
eliminating the security risk associated with Excel. Velocity
supports cell, row, column, grid, and workbook-level auditability.
It can also capture the auditability of approvals and workflow
notifications. These improved auditability, operational and
governance features allows financial services firms and banks
to continue to use Excel while moving these EUC's into a
compliant, secure, and auditable environment.
About Boardwalktech Software Corp.
Boardwalktech has developed a patented Digital Ledger Technology
Platform currently used by Fortune 500 companies running
mission-critical applications worldwide. Boardwalktech's digital
ledger technology and its unique method of managing vast amounts of
structured and unstructured data is the only platform on the market
today where multiple parties can effectively work on the same data
simultaneously while preserving the fidelity and provenance of the
data. Boardwalktech can deliver collaborative, purpose-built
enterprise information management applications on any device or
user interface with full integration with enterprise systems of
record in a fraction of the time it takes other non-digital ledger
technology-based platforms. Boardwalktech is headquartered in
Cupertino, California with offices
in India and operations in
North America. For more
information on Boardwalktech, visit our website at
www.boardwalktech.com.
About UST Global
For more than 24 years, UST has worked with the world's best
companies to make a real impact through transformation. Powered by
technology, inspired by people, and led by our purpose, we partner
with our clients from design to operation. Through our nimble
approach, we identify their core challenges and craft disruptive
solutions that bring their vision to life. With deep domain
expertise and a future-proof philosophy, we embed innovation and
agility into our clients' organizations, delivering measurable
value and lasting change across industries and worldwide. Together,
with over 30,000 employees in 30+ countries, we build for boundless
impact-touching billions of lives in the process. Visit us
at www.UST.com
Media Contacts, UST:
Tinu Cherian Abraham
+1 (949) 415-9857
Merrick Laravea
+1 (949) 416-6212
Neha Misri
+91-9284726602
Roshni Das K
+91 7736795557
media.relations@ust.com
Media Contacts, U.S.:
S&C PR
+1-646.941.9139
media@scprgroup.com
Makovsky
ust@makovsky.com
Media Contacts, U.K.:
FTI Consulting
UST@fticonsulting.com
Forward-Looking Information and Statements
This press release contains certain "forward-looking
information" within the meaning of applicable Canadian securities
legislation and may also contain statements that may constitute
"forward-looking statements" within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Such forward-looking information and statements are not
representative of historical facts or information or current
condition, but instead represent only the Company's beliefs
regarding future events, plans or objectives, many of which, by
their nature, are inherently uncertain and outside of the Company's
control. Generally, such forward-looking information or statements
can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or may contain statements that certain actions, events
or results "may", "could", "would", "might" or "will be taken",
"will continue", "will occur" or "will be achieved".
By identifying such information and statements in this manner,
the Company is alerting the reader that such information and
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
information and statements.
An investment in securities of the Company is speculative and
subject to several risks including, without limitation, the risks
discussed under the heading "Risk Factors" in the Company's filing
statement dated May 30, 2018.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in the forward-looking information and forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended.
In connection with the forward-looking information and
forward-looking statements contained in this press release, the
Company has made certain assumptions. Although the Company believes
that the assumptions and factors used in preparing, and the
expectations contained in, the forward-looking information and
statements are reasonable, undue reliance should not be placed on
such information and statements, and no assurance or guarantee can
be given that such forward-looking information and statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information and
statements. The forward-looking information and forward-looking
statements contained in this press release are made as of the date
of this press release, and the Company does not undertake to update
any forward-looking information and/or forward-looking statements
that are contained or referenced herein, except in accordance with
applicable securities laws. All subsequent written and oral
forward- looking information and statements attributable to the
Company or persons acting on its behalf is expressly qualified in
its entirety by this notice.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
View original
content:https://www.prnewswire.com/news-releases/ust-global-and-boardwalktech-enter-into-teaming-agreement-302168831.html
SOURCE BoardwalkTech