Blockchain
UST Named Leader in NelsonHall NEAT Report for Blockchain Services in Banking
UST, a leading digital transformation solutions company, today announced that the company is named as a Leader in the NelsonHall NEAT Report for Blockchain Services in the Banking Capability market segment. Leaders are vendors that exhibit both a high capability relative to their peers to deliver immediate benefit and a high capability relative to their peers to meet future client requirements.
According to the NelsonHall report, the global market for blockchain services stood at $496 million in 2020 and is expected to post a CAAGR of 53.3% through 2025. While North America and Europe have the largest blockchain implementation and management markets, NelsonHall projects the Asia Pacific to grow the fastest over the next five years.
UST’s blockchain services focus on organizational and ecosystem transformations by building client-specific solutions that facilitate innovative business models built on data reliability and operational agility. As noted in the NEAT Report, “UST sees blockchain as the enabling layer to solve market uncertainty that demands both data reliability and operational agility, by providing three key features: data that is flexible but secure, operations that are precise and efficient yet agile, and the guarantee of the sovereignty of the actors.”
“We are thrilled to be named a Leader for Blockchain Services in NelsonHall’s NEAT Report. It is the true confirmation of the work UST does in this space, helping our clients transform their business processes through the power of blockchain technology,” said Daniel Field, Head of Blockchain, UST. “It is an exciting time for the field of Blockchain. Long-envisaged solutions for programmable money and cheaper, faster settlement and reconciliation are rapidly becoming a commercial reality and the exploration of Central Bank Digital Currencies (CBDCs) is accelerating significantly.”
UST has dedicated blockchain specialists worldwide, with a Center of Excellence (COE) in Madrid, Spain, and an R&D lab in Trivandrum, India. More than 100 of the world’s leading organizations across banking, insurance, energy & utilities, healthcare, TMT, retail & CPG, transportation, use UST’s portfolio of solutions in blockchain.
Also cited in the NEAT Report was UST’s focus on building reusable components versus customizable accelerated solutions. Working with practitioners, domain experts, and a network of innovation partners, UST offers blockchain services in four categories:
- Strategy and consulting services: including a framework that enables enterprises to adopt and onboard blockchain-based solutions and services frictionlessly.
- Solution design and development: UST’s lab in Spain, is dedicated to conducting research in rapid prototyping, co-creation of use cases, and concept development on DLT (Distributed Ledger Technology).
- Architecture and integration: UST provides integration services of blockchain-based solutions that integrate with existing technology landscapes to enhance existing solutions.
- Products and tools: including libraries and accelerators to jumpstart prototypes and manage blockchain infrastructure.
“The recognition given by NelsonHall proves our ability to deliver innovative solutions to tackle any bottlenecks including legacy integration challenges,” said Niranjan Ramsunder, Chief Technology Officer, UST. “As a global leader in leveraging blockchains, UST helps reduce cost and time to market for our clients’ most important blockchain initiatives. We are blockchain platform-agnostic and build on a solid international ecosystem, working with the best vertical solutions from around the world on all the principal Blockchain platforms.”
Various analyst firms have consistently recognized UST’s leadership in blockchain since 2017. Most recently, UST was also recognized for distinction in blockchain by ISG with a Top Case Study Award for Digital Excellence, highlighting the company’s engagement with a leading Spanish multinational commercial bank to transform the international payments experience by deploying blockchain-based solutions. The bank launched its mobile-based application that enables their end customers to complete international transactions in hours, even minutes – whereas the same transactions previously took two to three working days to complete. In just four to five clicks, the customer can enter the amount to be transferred, select a recipient and exchange rate, and confirm the transaction. UST played a significant role in delivering this solution and integrating the platform.
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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