NEW YORK, February 17, 2016 -- Digital Asset Holdings, LLC, a developer of Distributed Ledger Technology for the financial services industry, today announced that it has entered into non-exclusive strategic business relationships with Accenture, Broadridge and PwC designed to ensure the faster adoption and scalability of its innovative solutions, and create additional value for clients across the financial ecosystem.
“We are excited to enter into relationships with Accenture, Broadridge and PwC and are already working with them to provide value to our clients and the industry,” said Blythe Masters, CEO of Digital Asset. “These alliances will accelerate innovation, drive growth and broaden our reach in different segments across the world.” Digital Asset's distributed ledger solutions improve post-trade processing efficiency and security, while reducing cost, latency, errors, risk and capital requirements. These partnerships will enable Digital Asset to increase the scope and scale of its reach, while aligning resources and capabilities to deliver the highest levels of consistency and quality to clients globally.
The Accenture relationship will provide consulting and systems integration services for clients through collaboration on blockchain-related work at global financial institutions. Accenture, the world's largest independent technology services provider, will provide a range of services under the agreement – from feasibility studies, business case assessments and operating model design to advisory services on systems architecture, cybersecurity and cloud, through to full-scale systems integration. The company was a participant in Digital Asset’s investment round that raised more than $60 million in funding last month. Accenture services 42 of the top 50 financial institutions globally.
The Broadridge relationship will provide expertise and resources to help identify, develop and drive adoption of innovative business use cases, leveraging Broadridge’s global connectivity and network of 150 capital markets clients. In addition, the relationship will enable Digital Asset to deliver its transformative technology through Broadridge’s market leading post trade managed services, infrastructure and cyber security capabilities, setting a new standard for efficiency and quality of service in post-trade solutions.
The PwC partnership will focus on taking PwC's recently released Blockchain Portfolio and aligning the services around Digital Asset's solutions and delivery model. PwC’s goal is to offer Digital Asset's clients globally available, on-demand services across strategic, business, and technical domains. The core focus will be on helping PwC’s clients get educated and evaluate the best opportunities to utilize Digital Asset solutions, with PwC specifically offering clients a variety of discrete services to execute proof of concept engagements.
“The potential for Distributed Ledger Technology to bring innovation to the financial services industry is clear,” said Owen Jelf, Managing Director of Accenture’s Global Capital Markets Practice. “Developing and implementing the technology on an industrial scale is the next step. Our close collaboration with Digital Asset will help financial institutions realize this potential, bringing new levels of efficiency and revenue.”
“Digital Asset’s Distributed Ledger Technology combined with Broadridge’s breadth of expertise and resources to deliver post-trade solutions for top global banks across 70 countries will accelerate our shared mission to advance efficiency, security and compliance across the global Capital Markets,” said Vijay Mayadas, SVP, Global Head of Strategy, Broadridge Financial Solutions.
“We believe that our partnership with Digital Asset and blockchain solutions demonstrates PwC’s commitment to providing our global clients with what the markets are demanding,” said Haskell S. Garfinkel, Partner, FinTech Co-Leader at PwC. “That is, commercially viable open sourced technologies that are based on trust, and solve the most complex problems businesses face at speeds and costs not yet imagined.”
Digital Asset builds distributed, encrypted straight through processing tools. Their technology improves efficiency, security, compliance and settlement speed. The New York headquartered firm has offices in San Francisco, Tel Aviv, Budapest, and recently announced the addition of a London office. Since launch, Digital Asset has sought complementary talent and technology by acquiring three companies: Hyperledger, Bits of Proof and Blockstack. The firm recently became a founding premier member of the Linux Foundation’s open source Hyperledger Project, to drive the adoption and standardization of Distributed Ledger Technology.