Prodigy active in modernizing service delivery, says Beckerman
UST, a leading digital transformation solutions company, is further strengthening presence in the Canadian financial market with the acquisition of Prodigy Labs as part of a deal with Prodigy Ventures Inc. (TSXV: PGV) for CAD12.5 million.
“Prodigy Labs plays an active role helping financial services firm drive comprehensive digital transformation campaigns. The acquisition significantly strengthens UST’s position in the financial services sector,” UST said in a release from Toronto and Bengaluru on 31 Jan 2023.
“This latest strategic move aligns with UST’s focus on delivering modern solutions that help financial institutions accelerate their digital transformation,” said the company.
The acquisition of Prodigy Labs will allow UST to develop solutions that make it easier for financial institutions to fully participate in the rapidly expanding financial services landscape.
In addition to further strengthening the company’s digital transformation capabilities in the financial services sector, the acquisition expands UST’s presence in the Canadian market.
“The Canadian financial sector is evolving in a number of exciting ways, and the acquisition of Prodigy Labs will position UST for long term success in a growing market,” said Mehmet Pasa, General Manager for Banking and Payments, UST.
“Adding the cutting-edge solutions developed by Prodigy Labs will enhance UST’s services portfolio, improving our ability to deliver end-to-end digital transformation in the financial services industry,” said Pasa.
“With the acquisition of Prodigy Labs, UST is adding additional strength and capability to its practice of delivering end-to-end digital transformation in the financial services industry,” said Sunil Kanchi, Chief Information Officer and Chief Investment Officer, UST.
UST is ready for the future and is also ready to help move financial institutions into a modern digital framework for the delivery of a first-class customer and member experience.
“This strategic acquisition positions us for success in the Canadian financial services market, a key vertical for UST, enhancing our ability to meet demand in this dynamic sector while also providing near shore support to serve the US market,” explained Kanchi.
“Prodigy Labs has played an active role in modernizing service delivery and strengthening Prodigy Labs’ relationship with UST will empower its team to keep delivering these critical services to its devoted client base,” said Tom Beckerman, Founder, Chairman & CEO, Prodigy Ventures.
“I am excited that Prodigy Labs will continue its growth as a UST company, building on its financial strength and broad global portfolio of products, services and resources,” he said.
UST is committed to enhancing its competitiveness by collaborating with leading organizations advancing groundbreaking digital transformation solutions that simplify operations for clients and internal stakeholders alike.
For more than 23 years, UST has worked side by side with the world’s best companies to make a real impact through transformation. It has over 30,000 employees in 30+ countries.
Prodigy delivers Fintech innovation. The Company provides leading edge platforms for open banking and customer chat support, coupled with seamless integration of our partners best-of-breed Fintech platforms. fiinews.com
