NEW YORK, Feb. 9, 2021 /PRNewswire/ — Prospect 33 is delighted to acquire the consulting business of 8of9, a New York-based regulatory consulting and technology firm. Prospect 33 and 8of9 have had a strong strategic partnership since early 2019 and this acquisition increases our high-level domain expertise and bolsters Prospect 33’s Risk & Regulatory advisory capabilities.
“Products and markets are constantly evolving and thus the responsibility for firms and regulators to ensure safe practices are also constantly evolving. Basically – regulatory change is here to stay,” says Mary Kopczynski, CEO and Founder of 8of9. “Over the last couple of years, our firms have had highly successful collaborations that have demonstrated exactly how complementary our capabilities are. This acquisition will enable us all to be able to provide even better service to our existing clients and to take on additional clients.”
The combined businesses enable Prospect 33 to better leverage the deep domain and regulatory expertise of 8of9 in supporting customer engagements at a more strategic level. Both Kopczynski and 8of9’s COO, Aaron Heisler, will continue to work with Prospect 33 as strategic partners, bringing their expertise to Prospect 33’s long established Risk & Regulatory practice while also focusing on 8of9’s product spinoff RegAlytics, a strategic RegTech business that covers regulatory alerts for over 1,600 US regulators.
According to Prospect 33’s CEO, Tom Spouse, “We’ve been looking to bolster our Risk & Regulatory practice for several years and the natural partnership with 8of9 made the decision to bring the two businesses together very easy. We now have the capacity to support our customers with full lifecycle projects and programs, as well as a genuine advisory practice. I see this as a step closer to our strategy of lifting Prospect 33 to a full-service Consultancy. Combined with our recently formed Digital & AI practice, we now have a highly relevant service portfolio which positions us to tackle broader and deeper engagements.”
Prospect 33 is a leading consulting firm specializing in Enterprise Data Management, the use of Data Science, Machine Learning and Artificial Intelligence, and leveraging cutting edge FinTech to drive Digital, Risk and Regulatory Transformation within the Financial Service Industry. Prospect 33 expects to continue to strengthen its capabilities in the sector by making strategic hires, partnerships, and acquisitions especially as 2021 ramps up.
Prospect 33 has a continued strategy for acquisition and growth in strategic markets around FS, AI and Risk & Regulatory Change throughout 2021.