EPAM's Acquisition of First Derivative Marks a New Era in Financial Services with Enhanced AI Solutions

EPAM Completes Strategic Acquisition of First Derivative

EPAM Systems, Inc., a renowned leader in digital transformation services and product engineering, has recently finalized its acquisition of First Derivative, a well-established managed services and consulting firm in the capital markets sector. Headquartered in Northern Ireland, First Derivative adds significant expertise and capabilities to EPAM's financial service offerings, which serve clients across North America, Europe, and the Asia-Pacific region.

Strategic Importance of the Acquisition

With over 1,800 employees worldwide, First Derivative stands out due to its substantial focus on capital markets consulting. This acquisition provides EPAM with access to one of the largest and most proficient capital markets consulting teams globally. The incorporation of First Derivative’s comprehensive suite of technology services, which includes application development, real-time data systems, and advanced automation solutions, aligns perfectly with EPAM's vision of leveraging AI for superior client service.

Balazs Fejes, President of Global Business and Chief Revenue Officer at EPAM, expressed enthusiasm about integrating First Derivative's specialist knowledge into EPAM’s existing services. He stated that this merger is poised to combine the strengths of both firms in AI, digital technologies, and engineering disciplines, thereby enhancing operational efficiency and innovation for clients across regulated industries.

Enhancing Client Services

The merger is expected to significantly boost EPAM’s capabilities in delivering AI-enabled solutions to banking, capital markets, and other financial sectors. By bringing First Derivative’s insights and methodologies into EPAM's fold, the company aims to better address clients' specific needs, especially in navigating complex regulatory landscapes and achieving operational efficiencies through tech-driven transformations.

David Collins, CEO of First Derivative, noted that this partnership with EPAM aligns strongly with First Derivative’s commitment to innovation. According to Collins, the confluence of both companies' technological expertise will empower clients to make better operational decisions, enhancing risk management and innovating in an increasingly data-centric marketplace.

The Road Ahead

With the acquisition finalized following the fulfillment of standard closing conditions and regulatory approvals, EPAM is well-positioned to implement its latest strategies. The partnership promises to not only expand EPAM’s global reach but also fortify its position as a leader in providing integrated financial services solutions. Utilizing First Derivative's significant industry experience will allow EPAM to accelerate its clients' journeys of digital transformation, making GenAI a reality with its diverse AI orchestration tools.

In addition to these advancements in technology services, EPAM has also been recognized as a strong performer in the global IT landscape. The acquirer has been featured as a top workplace and has garnered accolades from industry authorities such as Glassdoor and Newsweek.

Conclusion

EPAM’s acquisition of First Derivative is a significant step in transforming its financial services landscape. This merger not only enhances the service offerings but also demonstrates a commitment to technological excellence. As EPAM integrates First Derivative into its operations, clients across multiple sectors can anticipate improvements in productivity, risk management, and overall financial performance.