Economy Secretary Ken Skates has announced that South Wales’ thriving Fintech sector is set to receive another boost with Dutch company Backbase creating more than 50 new jobs at its office in Cardiff, following Welsh Government support.
As a leading software development company Backbase has offices in Europe, the US and Asia. It is the market leader in omni-channel banking software, and offers a secure platform that empowers banks and other financial institutions to accelerate their digital transformation.
With over a 100 large financial companies including HSBC, Barclays and Metrobank using its platform across 25 countries, Backbase is recognised globally and continues to garner awards and accolades. The company was recently recognised by Forrester’s industry analysts as a leader in Digital Banking Engagement Platforms.
Backbase hopes that the growth of its Cardiff office will support its aim to be at the forefront of digital banking innovation.
The company chose Wales as the base for its Research and Development facility because of Cardiff’s growing reputation as a hub for fintech, the quality of local skills supply and the support offered by the Welsh Government.
Backbase opened its R&D facility in Cardiff last year creating 24 highly skilled jobs. It is now expanding to create a further 50 new jobs which will be instrumental in targeting the growing Wealth Management sector.
The new team will deliver core software development, software testing and support for clients with the research and development accrued ultimately powering the commercial banking of multiple large financial institutions around the world.
Economy Secretary, Ken Skates said: “I am delighted that Backbase will now be adding a further 50 recruits to its Cardiff workforce following a package of Welsh Government support. Cardiff’s reputation as a thriving Fintech hub grows stronger by the month and we remain committed to working with companies in the sector to provide the skills and support they need in order to grow and expand their businesses.”
Chris Whitcombe, CTO of Backbase said: “The partnership with the Welsh Government was instrumental in bringing Backbase to Wales not just in terms of making it easy but the relationships they have been able to introduce us to. The tremendous pool of talent in the fintech sector and the better work life balance available were also factors in our decision to invest in Wales.”