New York â June 20, 2006: Lab49, Inc., the leading provider of custom application development services in the banking and financial services industries, and Eikos Partners, a newly formed high-end financial services management consultancy, today announced a strategic global partnership.
The aim is to create a continuous service offering that solves the challenges financial institutions face today. From complex CIO-level business issues through to sophisticated IT challenges, the integrated service will provide expertise in the full project lifecycle from planning and architecture, through development, implementation and operations.
âRecent industry regulations and the globalization of markets have introduced greater IT challenges. CIOs have a tough job balancing the need for innovation with the requirements for stability. More than ever, we have seen the need for advisors and vendors who understand the full scope of the challenges of the financial services market,â said Luke Flemmer, Managing Director and Co-Founder of Lab49.
Eikos Partners brings years of experience in planning and understanding the business while Lab49 has demonstrated its ability to design and deliver sophisticated trading and risk management systems into complex and demanding environments. Rather than engaging two separate firms, whose business analysis and development methodologies do not naturally dovetail, this partnership offers businesses the opportunity to buy an integrated service that reduces project costs and increases time to market.
âOur partnership with Lab49 provides both our clients with the best of two worlds: Lab49âs world-class technical execution capability integrated into Eikos Partnersâ strategic and planning work. Lab49âs consultants will add to Eikos Partnersâ unique blend of business and technology experience to help CIOs identify their needs and create plans and road maps to address these,â said Michael DeSanti, Partner of Eikos Partners
âEikos is a great complement to our existing consulting practice. They represent an important component of our total service offering,â said J. Brant Arseneau, Head of Financial Services Consulting for Corpus, the parent company of Lab49. âWe are putting a value chain together that will better serve the financial industry and focus on the global technology needs of the modern bank.â