BWLKF - UST GLOBAL AND BOARDWALKTECH ENTER INTO TEAMING AGREEMENT | Benzinga
Focus expansion for the Boardwalk Velocity Product into Financial Services Sector
CUPERTINO, Calif., June 10, 2024 /PRNewswire/ - (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 Boardwalktech.
"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 also 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. ...