NEW YORK (August 10, 2004) â Radianz, the leading global provider of financial connectivity services, today announced a sharp year-over-year increase both in the total number of services distributed to its customers and in the average number of services received by each customer, demonstrating the strength of its shared infrastructure business model.
According to data compiled by the company, the total number of services received by Radianz customers over the companyâs shared infrastructure increased by 39% from June 30, 2003 to 27,060 as of June 30, 2004. Additionally, the average number of services received by each customer increased by almost 20% to just under three per customer over the same period, with several clients each receiving between 40 and 50 Provider services over the Radianz infrastructure. As of mid-year 2004, Radianz was distributing services from 130 providers to some 10,000 customer sites over its shared infrastructure platform.
Brennan Carley, Radianz Chief Product and Technology Officer, noted that the data showed that the Radianz shared infrastructure model was gaining significant traction in the financial industry. "We are now routinely delivering multiple Provider applications and services to many of our customers over our industry-standard platform," Carley said. "In fact, roughly two out of three of our sales so far this year have involved adding additional services to the existing infrastructure at our customer locations. Our customers definitely see the benefits of shared infrastructure â lower costs, less complexity, and faster access to new services."
Radianz also added several high profile information and technology suppliers to its global service provider community over the past year, including GovPx, Macgregor, RTS, CLSA and Thomson Financial.
"Many financial institutions have already moved to neutral IP-based distribution platforms, such as Radianz," noted Michael Haney, an analyst with the research firm Celent. "They immediately benefited from the advantages that a shared infrastructure brings, including lower expenses and simpler maintenance. These firms are increasingly looking beyond basic connectivity needs towards value-added services they can receive over the platform. Providers of these services now realize that linking into such networks provides an instantaneous base of potentially thousands of customers."