Boardwalktech and LTIMindtree Expand Relationship with Global Banking Clients

Rhea-AI Summary

Boardwalktech Software Corp (TSXV: BWLK) (OTCQB: BWLKF) and LTIMindtree have expanded their partnership, focusing on a joint project with a top 5 U.S. bank. The collaboration leverages Boardwalk Velocity software to address End User Computing (EUC) applications risk management.

The partnership combines LTIMindtree's expertise in core modernization with Boardwalk Velocity's Digital Ledger-based platform to transform Excel-based EUC applications into IT-controlled business applications. According to third-party data, Velocity can remediate complex EUCs in one-tenth the time and resources while maintaining data integrity.

The solution addresses growing regulatory pressures on banks and insurers to mitigate risks associated with non-compliant EUC applications, offering improved data reliability and compliance management while enabling more profitable business growth.

Positive

• Partnership expansion with a top 5 U.S. bank demonstrates market validation
• Solution achieves EUC remediation in 1/10th of the time compared to alternatives
• Addresses critical regulatory compliance needs in banking sector

Negative

• None.

Partnership expansion includes joint Top 5 Bank, to deliver Data Governance, Risk Management, and Process Improvement solutions using the Boardwalk Velocity product

CUPERTINO, Calif. and MUMBAI, India, Jan. 22, 2025 /PRNewswire/ - Boardwalktech Software Corp (Boardwalktech) (TSXV: BWLK) (OTCQB: BWLKF), the leading Information Intelligence Platform company, and LTIMindtree Limited (LTIMindtree) (NSE: LTIM) (BSE: 540005), 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.  

Today's 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.

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."

About LTIMindtree Limited       

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 86,000+ talented and entrepreneurial professionals across more than 40 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit https://www.ltimindtree.com/.           

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.

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 November 26, 2024. 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.

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SOURCE Boardwalktech Software Corp.

FAQ

What is the purpose of Boardwalktech's (BWLKF) partnership with LTIMindtree?

The partnership aims to deliver Data Governance, Risk Management, and Process Improvement solutions using Boardwalk Velocity product, specifically focusing on remediating risk in End User Computing applications for banking clients.

How much faster is BWLKF's Velocity solution compared to alternatives?

According to third-party experience, Velocity can remediate medium and highly complex EUCs in one-tenth the time and resources while maintaining or improving data immutability.

Which major client is implementing BWLKF's Velocity solution in 2025?

A top 5 U.S. bank is implementing the Boardwalk Velocity solution through the LTIMindtree partnership.

What regulatory challenges does BWLKF's Velocity solution address?

Velocity addresses mounting regulatory pressures on banks and insurers to mitigate risks associated with non-compliant End-User Computing applications, helping avoid potential fines and improve internal controls.

What are the key benefits of BWLKF's Velocity platform for banks?

The platform offers process improvement, time and cost efficiency, minimal user disruption, and enables the conversion of Excel-based EUC applications to IT-controlled business applications while ensuring better data reliability.