Russian IT Firms Turn to Financial Market for Clients

Just a few years ago the very idea of Russia-based software engineers developing integrated systems for international investment funds seemed unbelievable," writes St. Petersburg (Russia) English-language business daily. "The situation has changed," continues the paper quoting Alexei Miller, DataArt's EVP: "Financiers in London and New York have turned to Russian software developers as outfits that can deliver tailor-made programs to manage complex money flows". The article reviews DataArt's successes, citing among its clients "a top five U.K. bank, several American and British investment funds and banks, and most recently a New York technology firm that signed up for a $1 million order". Eugene Goland, president of DataArt, explains: "We reached a point when we had to define further strategy. And we chose an expertise-based outsourcing strategy."

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