Further expansion into Financial Services
Sector for the Boardwalk Velocity Product
CUPERTINO, Calif., April 8,
2024 /CNW/ - (TSXV: BWLK) (OTCQB: BWLKF) -
Boardwalktech Software Corp. ("Boardwalktech" or the "Company"), a
leading digital ledger platform and enterprise software solutions
company, is pleased to announce that the Company has signed an
agreement with Tata Consultancy Services ("TCS") the largest IT
services and consulting company in India with operations in 46 countries and over
615,000 employees. TCS will be teaming with Boardwalktech to
deliver consulting and professional services in the financial
services market for the Boardwalk Velocity product. The Velocity
product provides a platform for financial institutions 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.
"We are honored to be partnering with TCS to deploy the
Boardwalk Velocity solution within an existing large joint US
banking client to help them rapidly transform a significant number
of EUC's within the bank. The expertise, client access, and
man-power that TCS brings to the financial services industry to
help improve operations and compliance via the transformation of
these EUC's onto the Velocity platform will be a game changer,
saving significant costs and time for many banks and financial
institutions," said Andrew T.
Duncan, CEO of Boardwalktech. "Further, Boardwalktech looks
forward to working with TCS to expand Boardwalk Velocity into other
global financial institutions."
Financial institutions utilize thousands of Excel and
Access-based EUCs for financial and performance models along with
reporting trackers that must be transformed into an environment to
mitigate and manage capital risk, while being compliant with Office
of the Comptroller of the Currency and Dodd-Frank risk modeling
requirements. By leveraging Velocity's unique data architecture,
these end-user solutions can be rapidly transformed onto a
compliant managed database platform. These transformations can
be completed faster than any other solution currently
available in the market with minimal impact to the end users
day-to-day operations, all while preserving user reliance on the
Excel experience and their existing EUCs. IT partners and financial
services customers have reported a 10x improvement in time to
deploy and cost to transform using Velocity to remediate small,
mid, and highly complex EUCs versus alternative software
solutions.
Velocity has an innovative and patented capability to convert
Excel data and models into a database application. The platform
converts Excel into a full three-tier application stack by
absorbing the Excel data/model. It 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. It 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 EUCs into a compliant secure 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.
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.
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SOURCE BoardwalkTech