NEWTOWN, PA, USA, and NEWRY, N. IRELAND, 7th October 2024 — EPAM Systems announces the acquisition of First Derivative, expanding its global presence with 1,800 new employees and 100 clients.
This move combines EPAM’s digital transformation prowess with First Derivative’s expertise in business consulting for capital markets, driving innovation and operational excellence for the financial services industry.
Leading digital transformation and engineering firm EPAM Systems’ acquisition of First Derivative gives it access to nearly a global workforce, an expanded global financial services portfolio and over 100 new clients throughout North America, Europe, and Asia.
EPAM seeks to provide these clients, mainly from the banking and financial industries, with a full range of end-to-end AI-enabled capabilities by leveraging First Derivative’s extensive experience.
Clients will also benefit from advanced digital ecosystems, operational enhancements, data-driven insights, and better regulatory compliance with the combined expertise of the new business entity.
David Collins, CEO of First Derivative, praised the synergy between EPAM’s technological capability and their domain experience, while Balazs Fejes, President of Global Business at EPAM, stressed the acquisition’s strategic importance in growing their financial services portfolio.
“Together, the businesses want to use cutting-edge, scalable AI technologies to redefine their financial services.”
First Derivative, a division of FD Technologies, has long been acknowledged for its superiority in assisting leading international banks to modernize their processes and improve decision-making using technology. With its acquisition, EPAM Systems can help clients leverage the power of AI for enhanced data-driven financial decision making.
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