Technology
Open Banking Market to Grow by USD 57.66 Billion (2024-2028) as Demand for Fast Seamless Payments Rises, AI-Driven Market Evolution Report – Technavio
Published
1 year agoon
By
NEW YORK, Oct. 31, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global open banking market size is estimated to grow by USD 57.66 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 27.2% during the forecast period. Increased demand for fast and seamless payments is driving market growth, with a trend towards integration of AI into open banking services. However, implementation of strict guidelines in handling personal financial data poses a challenge.Key market players include Airwallex, American Express Co., Australia and New Zealand Banking Group Ltd, Banco Bilbao Vizcaya Argentaria SA, Bank of Ireland, Caixa Geral de Depósitos SA, Citigroup Inc., Credit Agricole SA, Finastra, HSBC Holdings Plc, ING Groep NV, Jack Henry and Associates Inc, Mambu BV, Nationwide Mutual Insurance Co., NCR Voyix Corp., Qwist GmbH, Revolut Ltd., Royal Bank of Scotland plc, Societe Generale SA, and Wise Payments Ltd..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
Service (Banking and capital markets, Payments, and Digital currencies), Deployment (On premise and Cloud), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)
Region Covered
North America, Europe, APAC, South America, and Middle East and Africa
Key companies profiled
Airwallex, American Express Co., Australia and New Zealand Banking Group Ltd, Banco Bilbao Vizcaya Argentaria SA, Bank of Ireland, Caixa Geral de Depósitos SA, Citigroup Inc., Credit Agricole SA, Finastra, HSBC Holdings Plc, ING Groep NV, Jack Henry and Associates Inc, Mambu BV, Nationwide Mutual Insurance Co., NCR Voyix Corp., Qwist GmbH, Revolut Ltd., Royal Bank of Scotland plc, Societe Generale SA, and Wise Payments Ltd.
Key Market Trends Fueling Growth
The open banking market is undergoing a major shift with the incorporation of artificial intelligence (AI) into its offerings. This trend is fueled by the demand for improved user experiences and sophisticated financial management tools. In June 2024, neobank bunq, Europe’s second-largest with 12.5 million users, partnered with Mastercard. This collaboration utilizes Mastercard’s open banking platform, enabling users to consolidate accounts from multiple banks into the bunq app. By integrating AI, bunq’s advanced money assistant, Finn, enhances these insights with transaction data from various sources. For instance, users can request a comprehensive summary of their travel expenses over the past year, and Finn will gather this information from both bunq and external accounts. In February 2024, Bud Financial (Bud) and Fintech Galaxy formed a strategic alliance to strengthen the open banking ecosystem. This partnership combines Bud’s data intelligence capabilities with Fintech Galaxy’s open Finance FINX Platform, employing AI-driven data enrichment techniques. This integration empowers financial institutions to deliver personalized financial experiences by offering in-depth insights into customer behavior and financial requirements. Both parties share a common goal to maximize the potential of open banking and data intelligence, fostering innovation and customer-focused solutions within the financial sector. The integration of AI in open banking is set to disrupt the industry by providing more customized, efficient, and insightful financial services. As more institutions adopt these technologies, the global open banking market is anticipated to experience heightened competition and innovation throughout the forecast period, ultimately benefiting consumers with more targeted and intelligent financial solutions.
Open banking is revolutionizing the payment ecosystem by enabling secure access to financial data through APIs. Broadband connectivity and advanced technologies like AI and machine learning power big data analytics, enhancing personalized financial services. This trend is transforming traditional banking by providing real-time data for informed decisions and customer-centric services. E-commerce and venture capital are driving the adoption of open banking solutions. Security is paramount, with open API frameworks and security measures protecting sensitive customer data from online fraud. Open banking platforms offer innovative financial services, including insurance products and automated savings. Banks and financial institutions collaborate with third-party service providers to offer on-premise and cloud-based financial management tools. Open banking APIs facilitate seamless payment initiation and account information solutions, enhancing customer retention. Mobile banking benefits from these advancements, offering convenient and secure transactions. Despite these advantages, data security remains a concern. Open banking solutions must prioritize security measures to ensure trust and compliance with regulatory requirements. Retail and commercial banks are embracing open banking to stay competitive and meet evolving customer expectations.
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Market Challenges
The global open banking market is confronting a major hurdle in implementing stringent guidelines for managing personal financial data. This challenge is accentuated by recent regulatory advancements geared towards ensuring data security and adherence. In September 2024, the Financial Data Exchange (FDX) petitioned the Consumer Financial Protection Bureau (CFPB) for recognition as an authorized standard-setting organization for financial firms offering open banking services. This recognition would bolster the credibility and influence of FDX’s standards, offering a benchmark for the industry. The CFPB has finalized a rule detailing the qualifications necessary for an organization to secure recognition as a standard-setting body. This rule is part of the broader Personal Financial Data Rights Rule, which aims to safeguard consumer financial data. The new rule stipulates the attributes that standard setters must adhere to for CFPB recognition, including transparency, inclusiveness, and the capacity to create consensus standards that can be widely adopted by the industry. Compliance with these guidelines poses significant challenges for financial institutions. First, meeting the new standards necessitates substantial investment in technology and processes. Financial institutions must modernize their systems to satisfy the rigorous data protection specifications, an undertaking that can be both time-consuming and expensive. Furthermore, the necessity for consensus among various stakeholders can slow down the standard-setting process, potentially delaying the implementation of new guidelines. Despite these challenges, the implementation of strict guidelines for handling personal financial data is crucial for the global open banking market. These guidelines are essential for safeguarding consumer data and fostering trust, but they also necessitate considerable effort and resources from financial institutions to achieve compliance.Open Banking is revolutionizing the financial industry by enabling banks and financial institutions to share customer data with third-party service providers through APIs. This trend is driving the development of personalized financial services, real-time data, and innovative solutions. However, challenges persist. Banks must choose between on-premise and cloud-based Open Banking platforms, ensuring customer-centric services, and maintaining security measures for sensitive customer data. Retail and commercial banks are embracing Open Banking Solutions for improved customer retention and digital transformation. Open Banking APIs facilitate the exchange of financial data, enabling informed financial decisions and the integration of insurance products. With the rise of mobile banking and payment initiation solutions, API management, identity verification, and authentication solutions are essential. Data sharing and data analytics are key to unlocking the full potential of Open Banking. Security measures remain a top priority to protect financial institutions and their customers.
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Segment Overview
This open banking market report extensively covers market segmentation by
Service 1.1 Banking and capital markets1.2 Payments1.3 Digital currenciesDeployment 2.1 On premise2.2 CloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa
1.1 Banking and capital markets- Open Banking is a financial system that enables customers to securely share their financial data with third-party providers. This system allows for more efficient and convenient financial management. Banks provide access to customers’ account information through Application Programming Interfaces (APIs), enabling seamless data exchange. This innovation benefits consumers by offering personalized financial services and improved financial management tools. Additionally, it fosters competition among financial institutions and fintech companies, driving innovation and better services for customers.
Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)
Research Analysis
Open banking is revolutionizing the payment ecosystem by enabling customers to share their financial data with third-party service providers through APIs. This innovative approach is transforming the way we manage our money and access financial services. With broadband connectivity becoming more widespread, open banking is making personalized financial services more accessible than ever before. Artificial intelligence and machine learning are key technologies driving the open banking revolution. They enable real-time data analysis, informed financial decisions, and automated savings. Big data analytics is used to identify trends and patterns in financial data, leading to the development of new insurance products and customer-centric services. Security is a top priority in open banking. Advanced encryption and multi-factor authentication are used to protect sensitive customer data from online fraud. Venture capital is pouring into the open banking market, fueling the development of new and innovative financial services. Banks and financial institutions are embracing open banking solutions to improve customer retention and stay competitive. Open Banking APIs provide access to real-time data, enabling e-commerce transactions and mobile banking services. Overall, open banking is transforming the financial industry, offering a more efficient, personalized, and secure way to manage money.
Market Research Overview
Open banking is a payment ecosystem that leverages Open API Frameworks to enable third-party service providers to access financial data from banks and financial institutions in real-time. This revolutionary approach to financial services is driven by broadband connectivity, artificial intelligence (AI), and machine learning, enabling personalized financial services, informed financial decisions, and customer-centric solutions. Open banking goes beyond traditional banking by offering innovative financial services, including payment initiation, account information, and API management solutions. E-commerce and venture capital industries benefit from open banking by streamlining transactions and enhancing customer experience. However, open banking also presents challenges such as online fraud and data security. Financial institutions must implement security measures to protect sensitive customer data. Open banking platforms offer identity verification and authentication solutions to mitigate risks. Open banking solutions encompass financial management tools, insurance products, and real-time data analytics. Cloud-based and on-premise solutions offer flexibility and scalability. Open Banking APIs provide access to financial data, enabling automated savings, mobile banking, and digital transformation. Open banking’s data-sharing capabilities enable financial institutions to offer more informed financial decisions and innovative services, enhancing customer retention and satisfaction. Security measures are essential to ensure trust and confidence in the open banking ecosystem. Retail and commercial banks, as well as financial institutions, are embracing open banking to stay competitive and meet evolving customer needs.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
ServiceBanking And Capital MarketsPaymentsDigital CurrenciesDeploymentOn PremiseCloudGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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Penn Medicine, Children’s Hospital of Philadelphia team awarded Breakthrough Prize for developing gene therapy for inherited blindness
Published
37 minutes agoon
April 18, 2026By
LOS ANGELES, April 18, 2026 /PRNewswire/ — Their discovery started with a group of blind dogs living at a vet school. Now, the work has been awarded the prestigious Breakthrough Prize at the “Oscars of Science.”
Today, Jean Bennett, MD, PHD, and Albert Maguire, MD, both emeritus professors of Ophthalmology in the Perelman School of Medicine at the University of Pennsylvania, and Katherine High, MD, an emeritus professor of Pediatrics and the founding director of the Raymond G. Perelman Center for Cellular and Molecular Therapeutics at Children’s Hospital of Philadelphia (CHOP), received the Breakthrough Prize in Life Sciences for their work in developing the first FDA-approved gene therapy for an inherited condition, which dramatically improves sight in people with a form of blindness called Leber Congenital Amaurosis (LCA).
Their work blazed a trail for the more than 140 gene therapy trials for retinal conditions, including macular degeneration and diabetic retinopathy, diseases that collectively impact about 30 million people in the US. Eighty more trials are currently underway.
“Even 20 years ago, treating people with gene therapy was seen by some as an impossibility,” said Jonathan Epstein, MD, dean of the Perelman School of Medicine and executive vice president of the University of Pennsylvania for the Health System. “But this group of incredible physician-scientists persisted and created something that is providing sight to people who would have been completely blind as early as kindergarten. Their belief in the power of life-changing science has led to breathtaking results and richly deserved global recognition.”
The Breakthrough Prizes are called the “Oscars of Science” for their high-profile celebration of research and support from celebrities spanning numerous areas of pop culture. Created in 2012 by Sergey Brin, Priscilla Chan and Mark Zuckerberg, Yuri and Julia Milner, and Anne Wojcicki, the prizes are given out in five categories including Life Sciences, Fundamental Physics, and Math, each with an accompanying $3 million award.
This year’s accolade now means that nine Penn-affiliated researchers have received the Breakthrough Prize, tied for the most with Harvard University. The prior Penn Medicine award winners are Carl June, PhD (2024), Drew Weissman, MD, PhD, and Katalin Karikó, PhD (2022), and Virginia M.Y. Lee, PhD (2019). Additionally, Penn faculty members Charles Kane, PhD, and Eugene Mele, PhD, won the prize for Physics in 2019. Mathew Madhavacheril, PhD, an assistant professor of Physics and Astronomy in Penn’s School of Arts & Sciences, also received recognition at this year’s Breakthrough Prize ceremony when he was honored with the New Horizons in Physics award, given to researchers early in their careers.
“Science is rarely a straight path, and those who make the most profound discoveries are resilient and persistent, overcoming obstacles along the way,” said J. Larry Jameson, MD, PhD, president of the University of Pennsylvania. “That is exactly what I see in this year’s awardees, and it has been true of all our remarkable faculty who have been recognized for scientific breakthroughs. Whether they are discovering what lies beneath Alzheimer’s Disease, curing cancer by engineering a patients’ own immune cells, or reversing blindness—they have persisted with imagination and rigor. Their steadfastness has pushed the boundaries of what medicine can achieve.”
“Developing cell and gene therapies has long been a top priority for our organization,” said Madeline Bell, CHOP’s CEO. “This breakthrough is the result of decades of investment and collaboration, and reflects our commitment to translating scientific discoveries into therapies that will transform patients’ lives. It has paved the way for many more cell and gene therapy innovations and has given hope to families around the world.”
“They can see!”
Bennett and Maguire met and married during medical school in the 1980s. It was then that they both became intrigued by the concept of genetic therapy, the practice of replacing a mutated or faulty gene with a functional copy, and started dreaming of treating inherited forms of blindness with the technique, which at that time remained the stuff of science fiction.
It was “like thinking you wanted to go to the moon in 1950,” Maguire said many years later.
Both Bennett and Maguire joined Penn’s Scheie Eye Institute in the 1990s and began working on their ideas with lab mice. They learned that the University of Pennsylvania School of Veterinary Medicine housed a group of blind dogs who had a condition similar to the human disease: Leber congenital amaurosis (LCA). People born with a mutation on the RPE65 gene have poor vision starting at birth and often progress rapidly to complete blindness, usually by their 20s, but sometimes in early childhood.
The pair developed a therapy that used a virus as a transport, carrying a piece of DNA into cells that would then correct the faulty, blindness-causing proteins formed by the bad gene. The idea: Once the proteins were set right, some sight might return. First, they tested the therapy by injecting it into a single eye in each of three dogs.
It wasn’t long until they knew whether it worked. Bennett recalls receiving an excited phone call from a technician at the lab, who exclaimed, “They can see!”
Sure enough, the dogs were twirling around, using their treated eyes to see. Before treatment, the dogs had bumped and tripped through an obstacle course set up to test their sight. After the full treatment, the course was an easy task for the dogs.
A knock on the door
In parallel with Bennett and Maguire’s dreams of gene therapy, High was also working to bring the field forward. Like Bennett and Maguire, she had achieved long-term reversal of a serious genetic disease in a dog model: In her case, for hemophilia, a life-threatening bleeding disorder. High had advanced these studies from success in dogs to initial clinical trials in humans, delivering the donated gene into skeletal muscle and the liver.
The work was promising, but the human immune response to the gene delivery vessel—which was derived from a virus in the same way Bennett and Maguire’s therapy was—prevented sustained benefits from the therapeutic gene. At the same time, companies and investors, discouraged by high profile negative events, began to turn away from gene therapy. Progress stalled.
But with support from CHOP, High founded the Raymond G. Perelman Center for Cellular and Molecular Therapeutics (CCMT) in 2004. She recruited experts in all aspects of clinical gene therapy, including specialized knowledge in the manufacturing and release of gene therapy vectors, which are the particles that deliver a healthy copy of a defective gene to patients.
After vector production was set up at CHOP, High went to Bennett’s office and knocked on the door with a proposition to start a clinical trial in humans. In 2007, Maguire, who was then a surgeon in Pediatric Ophthalmology at CHOP, administered an injection of the experimental therapy at CHOP into a clinical trial participant – a 26-year-old woman—for the first time. Her twin, with the same condition, received the treatment shortly after.
When the team assessed the treatment of the 37 eligible participants from the original clinical trials, 72 percent reported the maximum possible improvement in a test of low-light conditions, which simulates night vision. Amid these, many reported improved peripheral and central vision, too. One patient, who could only detect changes in light, was suddenly able to navigate walking through Philadelphia at night, unaided, and could make out the clock on City Hall. Another patient was able to see a star for the first time in her life just six days after the procedure.
In 2017, the therapy—by then manufactured by Spark Therapeutics, a spinout from CHOP, and called Luxturna—received approval by the U.S. Food and Drug Administration. It became the first FDA approval of a genetic therapy for an inherited disease. Today, hundreds of people around the world have successfully received the treatment.
A celebration of decades of work
Today’s celebration in Los Angeles marks a celebratory milestone in roughly 40 years of work led by Bennett, Maguire, and High that has inspired others in the now vibrant field of gene therapy. In fact, a treatment stemming from High’s original work with hemophilia received FDA approval in 2024.
“We always just did what we thought you were supposed to do if you were a doctor: Find treatments for diseases,” said Maguire. “Both my father and Jean’s worked in science, and it seemed normal to try to push the envelope.”
“I think the only surprise for us was that things worked out so well,” Bennett said. “For every success, there are usually so many failures. That’s just the nature of science. But our team hit on something that has helped so many people and helped progress the field, and we’re really grateful for our part in that.”
High described the journey between the start of her collaboration with Bennett and Maguire in 2005 and the FDA approval in 2017 as “an arduous one.”
“At times, it seemed that the number of obstacles we needed to overcome to reach regulatory approval was never-ending,” High said. “Working without the benefit of the guidelines and precedents we now have today, we sought to solve each day’s problems so that the program would have a tomorrow. It was a bold and uncertain investment of time, effort, and resources. Few were willing to take on the risks, but it ultimately paid off, and it helped build the foundation of modern gene therapy.”
About Penn Medicine:
Penn Medicine is one of the world’s leading academic medical centers, dedicated to the related missions of medical education, biomedical research, excellence in patient care, and community service.
The organization consists of the University of Pennsylvania Health System and Penn’s Raymond and Ruth Perelman School of Medicine, founded in 1765 as the nation’s first medical school.
The Perelman School of Medicine is consistently among the nation’s top recipients of funding from the National Institutes of Health, with more than $588 million awarded in the 2024 fiscal year. Home to a proud history of “firsts,” Penn Medicine teams have pioneered discoveries that have shaped modern medicine, including CAR T cell therapy for cancer and the Nobel Prize-winning mRNA technology used in COVID-19 vaccines.
The University of Pennsylvania Health System cares for patients in facilities and their homes stretching from the Susquehanna River in Pennsylvania to the New Jersey shore. UPHS facilities include the Hospital of the University of Pennsylvania, Penn Presbyterian Medical Center, Chester County Hospital, Doylestown Health, Lancaster General Health, Princeton Health, and Pennsylvania Hospital—the nation’s first hospital, chartered in 1751. Additional facilities and enterprises include Penn Medicine at Home, GSPP Rehabilitation, Lancaster Behavioral Health Hospital, and Princeton House Behavioral Health, among others.
Penn Medicine is a $13.7 billion enterprise powered by more than 50,000 talented faculty and staff.
About Children’s Hospital of Philadelphia:
A non-profit, charitable organization, Children’s Hospital of Philadelphia was founded in 1855 as the nation’s first pediatric hospital. Through its long-standing commitment to providing exceptional patient care, training new generations of pediatric healthcare professionals, and pioneering major research initiatives, the hospital has fostered many discoveries that have benefited children worldwide. Its pediatric research program is among the largest in the country. The institution has a well-established history of providing advanced pediatric care close to home through its CHOP Care Network, which includes more than 50 primary care practices, specialty care and surgical centers, urgent care centers, and community hospital alliances throughout Pennsylvania and New Jersey. CHOP also operates the Middleman Family Pavilion and its dedicated pediatric emergency department in King of Prussia, the Behavioral Health and Crisis Center (including a 24/7 Crisis Response Center) and the Center for Advanced Behavioral Healthcare, a mental health outpatient facility. Its unique family-centered care and public service programs have brought Children’s Hospital of Philadelphia recognition as a leading advocate for children and adolescents. For more information, visit www.chop.edu.
Media Contacts:
CHOP PR Contact:
Ashley Moore
Moorea1@chop.edu
267-426-6071
Penn Medicine PR Contact:
Frank Otto
Frank.Otto@pennmedicine.upenn.edu
267-693-2999
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SOURCE Children’s Hospital of Philadelphia
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Haloid Solutions Expands Access to Radio Equipment by Offering Flexible Financing and Leasing Solutions Named HaloidFLEX
Published
4 hours agoon
April 18, 2026By
NEW YORK, April 18, 2026 /PRNewswire/ — As part of Haloid Solutions’ long-term commitment to helping businesses and municipalities acquire critical communications equipment despite budgetary constraints, Haloid now offers specialized financing and leasing programs through its HaloidFLEX program.
Designed to ensure that companies and governments have the equipment they need without costly capital expenditures outlays, HaloidFLEX offers financing for equipment purchased directly from manufacturers or local radio dealers. HaloidFLEX financing offers zero percent and low-interest options as well as predictable monthly payments for qualified buyers. HaloidFLEX clients can even opt to incorporate extended support services and protections into their financing to prepare for accidents, theft, or equipment losses. This gives companies peace of mind with one low monthly payment.
For organizations that don’t want or need to own equipment long-term, the HaloidFLEX leasing program offers similar benefits with potential tax advantages. Companies can lease brand new equipment and upgrade or return it at lease-end as needed. For companies seeking flexible options – or those that are interested in upgrading to the latest technology as it becomes available – leasing makes perfect sense.
One of the added benefits of each program is that HaloidFLEX allows clients to bundle services and protections that would normally be billed separately. Accidental damage, theft, and loss protections can be put in place, so that there’s never a lapse in communication if a radio fails. Extended warranties are also available upon request, so companies can customize their financing and protection to fit their budget and safeguard their equipment simultaneously.
According to a Haloid Solutions spokesperson, “Bundling expenses simply makes sense. It reduces the need for multiple policies and flexes with organizations to ensure critical communication equipment is available when needed while guaranteeing that the company’s investment is protected for the life of the equipment.”
HaloidFLEX financing and leasing programs are available to qualified businesses and municipalities nationwide. To learn more or request a customized quote, visit HaloidSolutions.com.
About Haloid Solutions
Haloid Solutions is the go-to resource for U.S. businesses and municipalities in search of financing and leasing for two-way radios, walkie talkies, communications equipment, accessories, and services. Focused on reliability, affordability, and performance, Haloid strives to equip professionals in all communication-based industries with the resources they need most.
For more information about Haloid Solutions, or details about the HaloidFLEX financing or leasing programs, please visit https://haloidsolutions.com/collections/lmr-radio-financing-and-leasing-and-subscription-low-cost-payment-options-for-2-way-radio-equipment or contact us on our website.
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SOURCE HALOID SOLUTIONS
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CAS Holdings Appoints Patrick McDermott as Chief Executive Officer
Published
5 hours agoon
April 18, 2026By
Leadership Transition Positions CAS Holdings for Continued Growth and Customer-Focused Innovation
FRANKLIN, Mass., April 18, 2026 /PRNewswire/ — CAS Holdings, a leader in industrial automation distribution, engineering, and integration, is pleased to announce that Patrick McDermott has been named Chief Executive Officer.
McDermott previously served as President and Chief Revenue Officer, where he played a key role in driving growth across the organization, strengthening customer relationships, and leading teams with a clear focus on execution and results.
In his new role as CEO, McDermott will lead CAS Holdings into its next phase of growth, building on the company’s strong foundation and continued commitment to delivering value to customers, partners, and employees.
“I’m honored to step into the role of CEO at CAS Holdings,” said McDermott. “Over the past year, I’ve had the opportunity to work alongside an incredible team, support our customers, and help drive the growth of our organization. I’m excited to build on that momentum as we move into our next chapter.”
CAS Holdings, through its divisions including iAutomation and RND Automation, delivers a full spectrum of industrial automation solutions – from product distribution and technical support to custom machine building and system integration. Serving OEM machine builders and end-users, the company brings deep expertise in motion control, robotics, and vision, along with value-added capabilities such as kitting, sub-assembly, panel building, and turnkey automation systems, acting as an extension of its customers’ engineering and production teams.
McDermott’s leadership will focus on advancing CAS Holdings’ strategic initiatives, strengthening its market position, and continuing to deliver innovative automation solutions that support customers across a wide range of industries.
“We have a strong foundation, a talented team, and a clear direction. I’m looking forward to what we’ll accomplish together,” McDermott said. “Our focus remains on supporting our customers with responsive, local expertise, strong supplier partnerships, and the engineering and production capabilities they rely on to keep their operations running and growing.”
About Complete Automation Solutions Holdings
Complete Automation Solutions Holdings (CAS Holdings) is dedicated to empowering industrial automation companies, including those in the packaging industry, to achieve optimal efficiency and success. With a diverse portfolio encompassing industrial distribution, panel building and assembly, system integration, and robotics, CAS Holdings provides comprehensive packaging machines and solutions tailored to meet industry needs. The company prioritizes strong partnerships, expert engineering, and innovative solutions, ensuring sustainable practices and continuous improvement. CAS Holdings envisions a future where its transformative automation solutions redefine industry standards and drive growth. Committed to transparency and collaboration, CAS Holdings aims to be the most trusted partner in the automation sector.
Press Contact:
Erika Jacques
508-838-8012
http://www.iautomation.com/
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SOURCE CAS Holdings, Inc.
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