Lab49, Inc., a consulting firm that specializes in building advanced applications for global financial institutions, today announced it has added Large Scale Computing (LSC) to its service offering.
According to Celent, grid's future in financial services looks bright. The analyst house estimates that spending on grids will grow from an already robust US$120 million today to over US$500 million by 2010. While Celent believes that less than 5 percent of all computations in financial services are performed on grids today, by 2010 that number is likely to grow to over 30 percent.
Where performance is paramount, Lab49's LSC provides solutions that address processing massive amounts of data in matters of milliseconds, thus increasing transactional and messaging processing throughput. Additionally, LSC solves the enterprise- and business-wide needs to significantly increase overall resiliency, improve IT operational integrity and reduce operating expenses. This, together with appropriately architected systems management and controls, can go a long way to address external regulatory requirements as well as internal audit and compliance needs.
These benefits are delivered by LSC through a service offering that encompasses an array of services, technologies and techniques, each of which is tailored to the specific business needs of clients. Often this includes objective advisory on technology standards and functions, strategic architecture, advanced application design and delivery, and performance optimization.
Vivake Gupta, Managing Director and Co-founder, Lab49, said, "We continuously look and analyze market demand to ensure we meet clients' needs. We saw an increased interest from financial institutions to develop an application infrastructure resilient enough to enable faster and better performance of business tasks. Large Scale Computing allows banks to do just that."
"We believe that this service offering will have many different applications within banks and other global financial institutions. For example, we are already helping banks improve the compute power of electronic trading and risk management infrastructures; vastly reduce latency between application processes; fulfill their resiliency needs; consolidate legacy application across hardware and operating systems; and, ultimately allowing the business to significantly optimize their investment dollars," said Daniel Chait, Managing Director and Co-founder, Lab49.
Currently, Lab49 is involved on projects on both sides of the Atlantic that span from developing high-performance front-office trading systems to complex risk applications, to performance optimization of existing pricing analytics infrastructure.
The company is also able to combine a deep understanding of the financial services sector with hands-on experience in solving business problems using various large scale computing techniques, applications and vendors.