Pershing, a Credit Suisse First Boston company, announced that its Technology Group has been assessed as a Capability Maturity Model (CMM) Level II organization. Pershing attained CMM Level II in its first assessment by an independent auditor. According to data reported by Carnegie Mellon’s Software Engineering Institute (SEI), which developed and sets the technology-industry CMM benchmarks, less than 45 percent of those organizations seeking CMM Level II assessment achieve success on the first attempt.
The Pershing Technology Group, which includes almost 800 application development associates, was assessed at CMM Level II less than 12 months after formally seeking this prestigious designation. Based on the criteria outlined by SEI, a CMM Level II assessment affirms that an organization’s application development efforts follow structured, reliable, and repeatable processes that enable them to ensure the quality of their application development initiatives. In turn, this leads to improved control over production costs and timely delivery of technology projects.
“Our assessment as a CMM Level II technology organization, is a direct reflection of our emphasis and commitment to developing high quality financial products and services solutions that add value for Pershing’s customers and their clients,” says Yvonne Young, Managing Director, Pershing Technology Group. “This highly regarded designation affirms our commitment to delivering industry-leading, cost-efficient technologies that allow our correspondent financial services customers and their investment professionals to focus on growing their businesses and meeting the needs of the clients they serve.”