Pyramid News

FOR IMMEDIATE RELEASE (January 31, 2011)

Pyramid awarded Examination Tools Suite (ETS) Basic Ordering Agreement (BOA) by the Federal Deposit Insurance Corporation (FDIC)

Fairfax, VA, January 31, 2011—Pyramid Systems, Inc. (Pyramid) is pleased to announce that the company has been selected by FDIC to provide IT support for the Examination Tools Suite (ETS) software development program. The estimated dollar value of the three year BOA is $22 million.

The integrated suite of applications developed under the BOA will replace the legacy tools currently used by FDIC examiners and other stakeholders to perform bank auditing tasks. The ETS applications will integrate and consolidate the current inventory of risk and compliance examination systems and tools. Under the terms of the BOA, Pyramid is responsible for the development and deployment of the new ETS system over the three-year period of performance as well as the migration of the ETS system into the new FDIC technical architecture.

Key project objectives include:

• Creating applications to automate examination processes
  
• Developing and deploying replacements to legacy software application systems
  
• Ensuring that designs conform to FDIC Enterprise Architecture standards
  
• Supporting FDIC in the transition from outdated application systems to enhanced application systems
  
• Supporting FDIC in the development of training materials
  

Initial Task Orders awarded with the BOA include:

• ETS-Supervisory Application Generating Examination (ETS-SAGE) – completion of Rational Unified Process (RUP) Elaboration Phase
  
• ETS-Automated Loan Examination Review Tool (ETS-ALERT) – completion of RUP Construction and Transition Phases
  
• Establishment of the ETS Development Environment
  

Upon being notified of the award to Pyramid, Sherry Hwang, company Co-Founder and President, commented:

“Pyramid is delighted to win our first contract with the Federal Deposit Insurance Corporation. The success of the ETS initiative is very important to FDIC business operations, and we look forward to addressing the challenges and complexities of this program, beginning with the initial Task Orders for ETS-SAGE and ETS-ALERT. The FDIC source selection process was extremely thorough and rigorous and we are very pleased to have been selected for the project from a set of highly capable organizations. We look forward to exercising the full range of our IT consulting and software engineering capabilities on this project and ensuring FDIC objectives for ETS are met or exceeded.”

About Pyramid Systems, Inc.

Pyramid Systems, Inc. (Pyramid) is a woman-owned small business providing full-service consulting and software engineering solutions to government and commercial clients. The company is a SEI CMMI Maturity Level 3-rated organization, and adheres to documented processes and best practices in delivering and maintaining solutions for clients. Pyramid differentiates itself based on IT thought leadership, responsiveness to the needs and expectations of our clients, and project delivery methods based on best practices. We deliver solutions on-time that meet or exceed client expectations. The company has multiple office locations in the greater Washington, DC metropolitan area. Pyramid maintains the following practice areas: software solutions, CAFM, consulting and advisory services, and business support services.

Point of Contact:
Elizabeth El-Nattar
Senior Vice President
eelnattar@pyramidsystems.com
703-995-0120