Asian-based ABeam Consulting Ltd. announced today that it has made an equity participation in a Singapore based IT service company Optimum Solutions Singapore Pte. Ltd.. ABeam Consulting has been in a collaborative partnership with Optimum since 2008 and the current 25% equity participation is intended to strengthen the operative content of their collaboration.
Major banks, securities firms, insurance companies, nonbanks and other Japanese financial institutions are piling into the Southeast Asia market. They are creating a need for business consulting services regarding new overseas business bases and governance, as well as improvement of operations and system infrastructure to promote business expansion. To respond to these needs, ABeam Consulting has decided to make an equity participation in Optimum, which has been providing a wide spectrum of IT services to global financial institutions in the region.
Through this equity participation, ABeam Consulting strengthens to provide long-term and stable support for financial IT resources and know-how in the region. As a result, ABeam Consulting will be able to form closer ties with customers both in the region and Japan and provide a one-stop consulting and IT service that will further improve customer convenience.
Especially, users of the Southeast Asia sites of Japanese financial institutes whose IT systems are concentrated around Tokyo and its suburbs are hampered by issues such as slow network response, the inability of software development to keep up with local business needs as well as little on-site support. Optimum’s IT capabilities will be able to significantly complement ABeam Consulting’s capabilities in Southeast Asia by bringing its IT skills to bear on these issues.
ABeam Consulting will consolidate its know-how with the area knowledge and IT service capability that Optimum has acquired. They will collaborate to form a comprehensive consulting service that can provide effective support for Japanese financial companies entering the region and assisting them in their expansion efforts.
Toshinori Iwasawa, President and Chief Executive Officer of ABeam said: “This equity participation has been made with the intention of improving both business and IT support so that the customers of Japanese financial companies can enter the Southeast Asia market and expand their businesses with confidence. Our consultants with their expert knowledge of Japanese financial institutions will be used together with the know-how and resources that Optimum has acquired in supporting global financial institutions to provide high value-added services in the region that are on par with those offered in Japan.”
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ABeam Consulting provides business transformation services that create strategic advantage, improve business processes, leverage technology innovation, and enhance organizational performance for leading multinational and domestic companies worldwide. ABeam partners with clients to diagnose and solve their real challenges with solutions that combine industry and operational best practices with technical expertise. Pragmatic approaches ensure that clients gain measurable value more quickly. Headquartered in Tokyo, ABeam’s 4,200 professionals serve more than 700 clients throughout Asia, the Americas and Europe. For more information, please visit http://www.abeam.com/
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