Beacon Platform, Inc. to Spin Off Banking Division

Beacon Platform has announced that they will be spinning off the
banking division.

NEW YORK–(BUSINESS WIRE)–Started a year ago by two former M&T executives, Viktor Ziskin and Yakov
Lantsman, Beacon
Banking
was part of a rapid expansion phase for the award-winning
platform. The company now sees benefits of acting as an “incubator” in
some cases, which allows it to quickly move into new areas while
remaining focused on its core businesses.

According to Kirat Singh, Beacon’s CEO: “In 2018 we embarked on
new initiatives that greatly broadened our industry footprint. As some
of these efforts mature, we continuously evaluate ways to optimize their
growth potential, and for the banking group that means the flexibility
to manage its own distinctive operating model. We are grateful to Viktor
and Yakov for their leadership in opening new markets for Beacon
products and look forward to continuing working with them as our
partners.”

The two companies are focused on ensuring continuity and emphasize that
the Beacon Banking product will remain a joint effort. “The
transition will be transparent to our clients and partners as we
continue to work closely together to expand our product offerings, drive
innovation, and provide the highest level of customer service,
” said
Mark Higgins, Beacon’s COO.

The move is intended to allow the banking business greater flexibility
to customize products and engagement models to suit a more diverse set
of clients.

Requirements, internal capabilities and pricing expectations
within a client universe that includes everyone from community banks to
super-regionals tend to vary considerably and we now have a structure
that allows us to be nimbler in how we engage with and tailor our
offerings to each one of them,
” said Dr. Ziskin. Additionally,
according to Dr. Lantsman, “Consulting and advisory services are
a critical component of our business, and the new partnership
arrangement allows us to focus more on that aspect while Beacon Platform
continues to develop the world class technology that underpins our
products.

About Beacon Platform, Inc.

Beacon is revolutionizing the financial services industry by empowering
our clients’ quantitative developer teams and business users like no
other platform provider. With the Beacon platform, financial
institutions of all sizes can leverage our 20+ years of experience in
building enterprise-scale trading, analytics, and risk management
platforms at some of the most successful financial institutions in the
world. In addition to applications for front and middle office users,
the Beacon platform includes cloud-based, secure sandbox infrastructure,
a full suite of developer tools, and transparent source code to give our
clients unparalleled power to own the full stack and achieve their
business goals. Beacon was founded in 2014 by the senior technologists
who worked with SecDB at Goldman Sachs and created Athena at JP Morgan
and Quartz at Bank of America Merrill Lynch. Beacon has over 70
employees with offices in New York, London, Berlin and Tokyo. www.beacon.io

Contacts

Mark Higgins
[email protected]
+1.800.893.9826

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