First Derivative, the Northern Ireland-headquartered managed services and consulting business for the capital markets industry owned by FD Technologies, is being sold to EPAM Systems.
EPAM has agreed to acquire the fintech company with more than 1,800 employees worldwide and leverage its strong industry experience and brand to deliver a comprehensive set of AI-enabled end-to-end capabilities to clients in banking, capital markets, and other financially regulated businesses across North America, Europe, and APAC.
First Derivative will bring more than 100 new clients under the EPAM umbrella
Through the acquisition, First Derivative – which mainly operates in the U.K., Ireland, North America, and APAC – will bring more than 100 new clients under the EPAM umbrella, offering unmatched value and setting a new standard for technology services in the financial services industry.
First Derivative caters to several firms, including the top 20 global banks, in order to help them stay compliant, reduce costs, and enhance efficiency through tech modernization. Clients are equipped to leverage the power of data and AI to enhance decision-making.
First Derivative is a division of FD Technologies plc, which is listed on the Alternative Investment Market (AIM) of the London Stock Exchange.
EPAM adds First Derivative’s expertise across capital markets, banking operations, and asset servicing
Balazs Fejes, President of Global Business and Chief Revenue Officer, EPAM, commented: “We’re pleased to expand our financial services portfolio and diversify our global footprint in key regions with the addition of First Derivative’s deep expertise across capital markets, banking operations and asset servicing. The combination of EPAM’s digital technology and engineering heritage with First Derivative’s business services and packaged implementation software offerings, bolstered by the transformative potential of Generative AI, will establish valuable end-to-end capabilities for our clients. This enables them to evolve and scale their digital ecosystems, gain deeper data insights, enhance operations and drive innovation, all while minimizing risks and maintaining regulatory compliance.”
David Collins, CEO of First Derivative, said: “EPAM’s commitment to engineering excellence and its transformational capabilities, including GenAI, will strengthen and expand our ability to shape the future for clients, including the world’s largest investment banks. As a top employer for highly skilled engineers, analysts and consultants in capital markets, we are excited to continue our momentum by joining the EPAM team and extending our mission to help organizations accelerate agility and remain competitive in an ever-evolving landscape. Together, we are positioned to be the market leading services provider with a highly differentiated capability, combining strong domain expertise and the best in modern technology. We will offer a full suite of end-to-end business and technology services to the world’s leading investment banks.”
Seamus Keating, CEO at FD Technologies plc, commented: “For more than 25 years, First Derivative has helped the world’s largest global banks and financial services companies solve their most pressing operational, data and technological challenges. With its combination of domain knowledge and technical expertise, we are proud of First Derivative’s proven track record and long-standing relationships with blue-chip financial institutions and look forward to seeing its continued success.”
