A financial services technology firm based in Nantgarw has announced investment plans that will safeguard 34 high-value jobs and create a further 26.
Monitise International Ltd will expand its development and support centre with £527,000 of business finance from the Welsh Government.
The focus for the investment and expansion will be the continued development of the company’s FINKit cloud-based platform.
Launched last year, the platform enables banks and financial services organisations to transform and accelerate the delivery of their digital services to customers.
The new jobs will support the existing FINKit development team as it continues to design, build, test, and service this new platform. FINKit delivers bank-grade security and is geared towards helping banks innovate more rapidly and cost-effectively and interact with their customers via smartphone, tablet, PC, digital TV, smartwatch, or any other digital media.
Economy Secretary Ken Skates said: “Fintech [financial technology] is an area of huge growth potential, and attracting investment into this sector is a key focus for both the ICT and financial and professional services sector strategies.
“That Monitise has chosen to reinforce its team in Nantgarw, rather than create these new jobs in London or its other locations, is evidence of the expertise and experience to be found in the growing fintech ecosystem in Wales.”
Will Jones, Managing Director Europe at Monitise Group, said: “There is an impressive pool of technology talent in Wales, and in particular in the Cardiff area.
“We are pleased to be able to support the continued growth of the industry here as we expand the team of pioneers working on FINKit to empower banks to provide better, more innovative products and services for their customers.”
Caerphilly AM Hefin David has also welcomed the news.
He said: “This investment will ensure good-quality jobs are maintained in South Wales.”