Lab49 Responds to Client and Market Need for Premium Outsourcing Services

Bangalore/ London/ New York - 4 October 2006

Financial services consultancy adds global execution capability to its service offering

Lab49, a consulting firm that specialises in building advanced applications for global financial institutions, today announced that it has extended its service offering via a new office in Bangalore. The service is a fully integrated geographic extension of Lab49 and follows client demand for premium outsourcing services.

Vivake Gupta, Managing Director of Lab49, said, "We're seeing an increasing need for bespoke technology services in the front and middle office, but often without the budget to support that demand. These budgetary constraints often prohibit clients from engaging across the entire functional scope of a project. Lab49 Bangalore provides clients with a new alternative to achieve more at the same quality but at a more cost-efficient level."

Headed up by Avik Sengupta, the office offers clients the same custom technology consulting services as Lab49 London and New York. The office further extends the company's global footprint by providing cost-efficient support for engagements that may not require a regular on-site presence.

"Lab49 Bangalore employs only the very best software engineers with financial services domain expertise and the entire team enjoys a rich collaborative and supportive environment. As a result, the office provides our clients with access to a broader pool of talent and therefore a broader array of options when looking to source a project," said Avik Sengupta, Director, Lab49 Bangalore.

Currently the team provides global execution capabilities for Lab49 clients in areas such as fixed income, equity derivatives, cash equities and repo trading. It is already engaged on multiple projects for London-based investment banks, working across both London and Bangalore.

Through the use of various collaboration and communication technologies, and its iterative delivery model, Lab49's co-located teams are able to provide business users and key client stakeholders with continuous transparency into project and frequent feedback on the regular iteration deliverables.

The Bangalore office has extensive collective experience of working on Wall Street and in the City, and has a proven track record in executing front office type projects. It is this understanding of the front office business, environment and culture that will make this office as successful as Lab49 London and New York.

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