Glue42 outperforms its revenue projections for 2022 and establishes itself as the vendor of choice for simplified desktop integration solutions for buy-side and sell-side institutions of all sizes.
NEW YORK, March 3, 2023 /PRNewswire/ -- Glue42, the company that delivers seamless desktop experiences to financial institutions globally, delivered a stellar performance in 2022, exceeding projections with a record 400 percent year-on-year revenue growth.
Desktop interoperability – the ability to integrate different applications on the desktop and blur the boundaries between them to create a seamless experience for users (Straight-Through Workflows) – has been the holy grail for financial institutions for some time. The COVID-19 pandemic accelerated this demand as banks, brokers, and asset managers saw the benefits of integrating trading applications together, and today's hybrid work environment has only fueled this growth.
In 2022, Glue42 continued to fulfill the market demand for desktop interoperability and enjoyed explosive license revenue growth within major financial institutions and FinTechs that support them. The company also added a record number of new clients, from fixed income and equities, operations, wealth management, retail banking, and pensions. These included AllianceBernstein, Broadridge, Numis, and others, in addition to repeat business from existing clients.
"Glue42 prioritizes partnerships and operates with a level of integrity and passion that drives success," said a senior developer at a tier 1 global bank.
"We've hit an inflection point in the market," said James Wooster, COO of Glue42. "Large financial institutions are now aware that they don't have to install clunky interop containers when getting their apps to work together. Glue42 not only invented the concept of zero-install desktop integration but is also ideally placed to take advantage of the increasing use of Progressive Web Applications (PWAs)."
The impressive growth of Glue42, in addition to its long list of interop innovations, has also attracted a number of new partners to its network in 2022, including Symphony, Singletrack, ChatterQuant and more.
This spectacular growth has called for many new hires, including business domain experts, UX designers and software engineers, who have been instrumental in advancing the Glue42 product roadmap and building domain-specific solutions. Glue42 has also further strengthened its client and partner success functions to support its growing client base and vendor ecosystem.
James Wooster points to the release of Glue42 Server in 2022 as one of the reasons for the firm's continued success. "Glue42 Server is a unique platform that enables our customers to implement projects more quickly than ever before. They no longer need to create the back-end infrastructure services to manage application permissioning, workspaces, layouts, user behavior metrics, and notification groups. This is now available out-of-the-box."
This sentiment was echoed by many clients that attended the company's inaugural client forum in New York which is set to return later this year in London and New York.
"The Glue42 Client forum has been extremely useful to connect with industry thought leaders and share stories and best practices to raise our standards for the future," said a UX director at an Investment Bank.
And the company has no intention of slowing down, as 2023 is set to be another record-breaking year for Glue42. With expectations to accelerate its pace within greenfield territory, fiscal 2023 will see the largest-ever increase in investment in the business, including a record rise in marketing spending. Glue42 will also sponsor and participate in a selection of events in Asia-Pacific to support its growth plans there.
From a product perspective, in H1 2023, Glue42 will release three new products and will continue to update the company's two main products regularly, Glue42 Enterprise and Glue42 Core+, based on client feedback and iterations.
Most recently, Glue42 received further recognition for its product by winning the A-Team's TradingTech Insight Award for Best Smart Trader Desktop Environment for the second consecutive year.
Note to editors:
Straight-Through Workflows is a trademark of Glue42 AB.
Glue42 is an award-winning desktop integration platform that provides a one-stop shop for building best-of-breed integrated desktop experiences for tier-one financial institutions globally.
Glue42's mission is to blur the boundaries between applications and create seamless desktop experiences for end-users by allowing the creation of cross-application workflows and workspaces, app stores, centralized notifications, global searching and more on financial desktops regardless of the underlying technology. The company is based in London, New York, and Sofia.
Contact on behalf of Glue42
Email: [email protected]
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