Financial Services and Healthcare practices were once again the top performing divisions of DataArt, contributing 35% and 15% respectively to overall company revenue. 15 new client wins in the financial technology sector validate the company’s industry expertise in the key areas of portfolio and risk management, derivatives and market data application development. Among DataArt’s new clients are some of the most innovative and well respected firms, including IPM, a leading European hedge fund, Ocado, the UK’s leading online supermarket and ThinkEco, a New York City-based company developing software energy-efficiency solutions for businesses and consumers.

To support market demands and enhance client communication, DataArt opened a state-of-the-art European headquarters in the Ukrainian capital Kiev, bringing the total company headcount to 700 in eight offices world-wide. DataArt’s business expertise, strong management and growth were recognized by prestigious industry organizations, including the 2011 Global Services 100 List and Inc. 5000 List of Fastest Growing Private U.S. Companies. DataArt was also voted the Best IT Employer in Ukraine for 2011. The year culminated with DataArt on the forefront of technology innovations, completing a roster of enterprise and mobile solutions while tapping into emerging trends and development channels such as cloud, Big Data and embedded technologies.

“DataArt’s continued growth validates the company’s strategy of providing bespoke software development services to the mid-size companies who value fast time-to-market, flexible engagement options and specialized domain expertise,” said Eugene Goland, President of DataArt. “We continue to see that this sector is underserved by both generic, “all things to all people” outsourcing providers who focus on building low cost ODCs, and the large-scale, “brand”-driven providers who tailor their best offerings to the very large clients.”

ThinkEco develops hardware and software energy-efficiency solutions for businesses and consumers. Its patent-pending modlet® (for “modern outlet”) features intelligent engineering and algorithms to provide a simple, low-cost and easy-to-use solution for saving money and energy on electronic appliances. Once plugged into a standard outlet, the ThinkEco modlet gives users remote control access to all their plugged-in devices through its built-in wireless connectivity, and offers an intuitive method to save money. More specifically, the modlet tracks power consumption of plugged-in devices, allows users to set custom energy-saving schedules for them, and tracks the users’ overall saving performance for users.

DataArt has been engaged by ThinkEco to develop parts of the ThinkEco modlet technology platform, including the modlet iPhone and Android apps, cloud infrastructure (web and DB servers), and client-side application software. Integrating into ThinkEco’s core product R&D, DataArt added scalability and expanded the mobile platform, enabling availability across a range of devices. The resulting ThinkEco modlet apps allow users to monitor power consumption at each plug, remotely turn plugged-in devices on/off, view custom energy-saving scheduling plans and provision real-time access to effectively track and adjust usage costs.

“We developed the modlet and our energy efficiency sensor technologies to make it easier for consumers, business, OEM’s, utilities and large enterprises to save energy and money from the electrical waste from plugged-in devices, and DataArt immediately got what we want to do,” said Jun Shimada, chief technology officer and a founder of ThinkEco. “We want to enable the internet of things as we expand our productive partnership with DataArt.”

“ThinkEco offers a convenient portal to maintaining an eco and budget friendly lifestyle,” said Artyom Astafurov, SVP and Chief Innovation Officer of DataArt. “DataArt development teams live on the greener side of the fence and our continued collaboration will support ThinkEco’s sustainability initiatives, empowering users to control their carbon footprint as well as their energy costs.”

The increased demand within the financial technology practice spurred the launch of the wealth management and advisory division dedicated to meeting the diverse and sophisticated needs of asset and investment management along with financial technology, analytics and data provider firms. In 2011, DataArt completed several projects of incredible technical complexity for the front office and electronic trading, enabling many of the world’s largest investment banks to run live on algorithmic trading and transaction processing systems, processing well over 100 million orders each day. Additionally, DataArt’s commitment to build up Private Equity technology expertise has allowed clients to support complex research workflows, valuations and investor reporting.

DataArt’s technology innovations, its strong management and growth have been recognized by prestigious industry organizations, including the 2011 Global Services 100 List and Inc. 5000 List of Fastest Growing Private U.S. Companies. Alexei Miller, Executive Vice President of DataArt, also appeared on the buy-side risk panel at FLP Americas Trading Conference and led the global multi-sourcing transformations panel at the 5th annual FSO summit.

“Despite a down year for large financial institutions, DataArt’s capital market practice grew at a double digit rate which represents the push for engineers who speak the language of finance, “said Alexei Miller, EVP of DataArt. “While we have created solutions to assist large investment firms, many of our new clients are financial technology startups, working on innovation solutions in electronic trading and OTC derivatives. The continued market uncertainty will drive more entrepreneurs to find new resolutions and we are well positioned to collaborate with companies in 2012, big and small, to build applications that are essential to their business and established strong strategic technology partnerships.”

In 2012 DataArt anticipates interest from the financial sector to boost dramatically as firms look to drive efficiencies, reduce costs and minimize software development risks:

• Technology spend will continue to be influenced by regulations in credit risk and capital management, presenting the range of challenges exclusive to the financial services industry.
• A new generation of market data providers requiring development initiatives in OTC and complex derivatives will emerge, driving the need for real-time applications.
• An increased push toward the cloud: while private cloud technology is now common place in the data center, we may see an increased push towards public cloud and PaaS providers. DataArt is well prepared, having invested in staff and certifications on key cloud platforms, including force.com, Microsoft Azure and Google AppEngine.
• An upturn in interest in mobile tablet applications: an area that rocked technology investment elsewhere but until recently received little attention from financial firms. DataArt is currently working on a range of mobile portfolio reporting tools for clients of all sizes.