Financial Insights Closes Out Year With Growth and Expansion; Firm Doubles in Size, Expands Internationally
FRAMINGHAM, MA – November 12, 2004 – Financial Insights, an IDC company, today announced the completion of its second successful year (fiscal year-end September 30) with major growth and customer acquisition. With offices in Framingham, Mass., the U.K., Italy, Singapore and Canada, the company now services more than 130 customers in 16 countries. In its two years as an IDC company, Financial Insights has grown its revenue more than 150%, (research revenues account for the majority), with consulting, conferences, speaking engagements and webcasts contributing significantly to the bottom line.
Known as Meridien Research when it was purchased by IDC in October 2002, the then five-year-old Newton, Mass., financial services research and advisory company was merged with IDC's existing financial services advisory group and re-launched as the first of several IDC companies primarily targeting end users in various vertical markets. Today, Financial Insights derives more than 74% of its annualized contract value from financial institutions and market providers. "Financial Insights is the only research firm today to post double-digit growth. I am convinced we will be the #1 provider in this industry within the next 12-18 months," said Michon Schenck, Chief Operating Officer, Financial Insights.
"We are thrilled with our results this year on several key fronts," added Schenck. "Putting up these kinds of numbers in this challenging economic environment is an outstanding achievement that no other firm can match. Our increased revenue quarter-over-quarter, the increased volume and quality of our research, the number of customers we've acquired, and our global expansion have established us as a true leader in the market. Moving forward, we will continue to focus on providing customer value and increasing our presence around the world."
During 2004, Financial Insights grew its conference business worldwide and hosted over 15 events in Europe and Asia/Pacific drawing 1,000+ financial services attendees. In North America, Financial Insights' annual client conference in Boston increased sponsorship revenues as well as attendance year over year. And Financial Insights recently announced the FinTech 100, a ranking of financial services technology providers which details specific financial services revenue performance and highlights key service providers, providing a very useful investment guide to financial institutions worldwide.
To learn more about Financial Insights, meet with our research analysts, directors or senior management team at the BAI's Retail Delivery Nov. 16-18 in Las Vegas. To schedule an interview in advance contact Deborah Stark at firstname.lastname@example.org. For more information visit: http://www.financial-insights.com.
About Financial Insights, an IDC Company
Financial Insights provides independent research, custom consulting, and detailed multiclient studies on the technology issues and challenges facing the financial services industry. Our global research covers topics of strategic importance to corporate and retail banks, insurance carriers, asset management firms, securities and brokerage firms. Our local practices in Asia Pacific, Europe, and Canada add an in-depth regional viewpoint. Financial Insights, an IDC company, is headquartered in Framingham, Massachusetts, USA. IDC is a subsidiary of IDG, the world's leading IT media, research, and exposition company.