Partnership expansion includes joint Top 5 Bank, to deliver Data Governance, Risk Management, and Process Improvement solutions using the Boardwalk Velocity product
Boardwalktech Software Corp, the leading Information Intelligence Platform company, and LTIMindtree Limited, a global technology consulting and digital solutions company, have expanded their partnership including current work at a top 5 U.S. joint banking client to remediate the risk of End User Computing applications (EUCs) using the Boardwalk Velocity software product.
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The announcement synergizes LTIMindtree’s profound expertise in core modernization, migration tools, and accelerators with Boardwalk Velocity’s unparalleled Digital Ledger-based low-code application platform. This collaboration empowers the seamless migration of Excel-based EUC applications to IT controlled and managed business applications, setting new industry standards. The offering harnesses the formidable capabilities of Boardwalk Velocity to deliver rapid risk management and compliance, Excel EUC data management, and significant business process improvement. Velocity’s cutting-edge solution empowers banks and insurance clients to effortlessly achieve their regulatory and compliance objectives, while promoting better data reliability to enable more profitable business growth via the Digital Ledger’s single version-of-the-truth. By leveraging Velocity’s transformative capabilities, clients experience the seamless conversion of these EUC applications on firm-wide scale, realizing a substantial edge in terms of both time and cost to deliver when compared to alternative technologies. According to third party experience, Velocity has been able to remediate medium and highly complex EUCs in one-tenth the time and resources while preserving or increasing the immutability of the data.
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Banks and insurers of all sizes are facing mounting business constraints and regulatory pressure to mitigate risk associated with non-compliant End-User Computing applications. This issue, which has historically been evaded due to its extensive scope, reliance on manual solutions, and intricate nature, can no longer be ignored. In light of the evolving regulatory environment, risk management implications impeding both revenue opportunities and internal controls, and the imposition of fines by regulatory bodies have elevated the urgency to prioritize this endeavor. Velocity’s revolutionary solution will address the pressing transformational requirements, delivering time and cost efficiencies that surpass all previous possibilities.
“The expansion of our partnership with LTIMindtree at a prominent U.S. bank demonstrates the value of the partnership and Velocity’s success in transforming manual processes and reducing EUC risk. The client is experiencing the benefits of Velocity in the hands of a talented LTIMindtree team who is delivering on EUC remediation and process improvements across the bank,” stated Andrew T. Duncan, Chief Executive Officer at Boardwalktech. “This solution triumphs on four fronts – process improvement, time, cost, and a minimal disruption to users. This enables LTIMindtree and Boardwalktech to provide an unparalleled solution that is poised to remain highly sought-after and indispensable within the entirety of the financial services industry.”
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Source – PR Newswire
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