Enterprise-wide program to improve information management, compliance, and business processes
Boardwalktech Software Corp, the leading Digital Ledger low-code application platform and enterprise software applications company, is pleased to announce it has signed a long-term contract with one of the world’s largest banking and financial services companies based in New York. The Client plans to deploy the Boardwalk Velocity product across its global enterprise with a focus on compliance, risk, data management, and business process improvement. Net proceeds from this contract are expected to exceed US$4 million over the first three years (subject to a standard acceptance period) and should increase in subsequent years as this platform is adopted and deployed globally across the Client’s banking and financial services business units.
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The Company and Client plan to rapidly implement the Velocity product running on the Boardwalk Digital Ledger Platform, to transform, automate, manage, and improve business processes with a focus on compliance for and remediation of Microsoft Excel-based end user computing applications (EUC’s). By transforming and automating these EUC’s on Velocity without having to re-platform or write a single line of code, the Client will be able to quickly transform this data and their Excel applications into a fully compliant environment. Velocity gives enterprises the ability to govern, monitor and audit all changes in real time – which is only possible because of automatic, low-code data and workflow auditability through our patented Boardwalk Digital Ledger. While the financial service market is on track to be the first segment to deploy Velocity, the features and benefits are expected to be recognized and adopted by other targeted markets for Boardwalktech.
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“This contract is our first in the banking industry and came to us from one of our existing partners. Our new Client, after trying legacy solutions from its vendor partners and software companies/platforms over the past few years, has been unable to transform these EUCs at scale. Our Velocity solution and its automation technology was able to directly meet the requirements of the Client to rapidly transform these existing EUC’s while meeting the needs of both end users and more importantly the Bank’s compliance initiatives,” said Andrew T. Duncan, CEO of Boardwalktech. “This contract, coming from such a global and technologically leading financial services company, validates the effectiveness of our unique platform and propels us as a technology solution provider across the entire financial services industry for compliance and data management. This contract is the beginning of a transformation within the banking industry, and it is our Company’s belief that Boardwalk’s Digital Ledger platform and Velocity will become the gold standard for compliance and remediation needs in other financial institutions.”
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