The Welsh Government is investing over £650k in a growing fintech company in order to create 80 well paid jobs at a new software development hub in Cardiff.
A total of £651,000 will be given to software management company Link Data Management Solutions (LDMS) to set up their HQ at Southgate House, with 20 staff moving to the location from Caerphilly and the rest of the jobs being created over a four year period.
Roles being recruited for include software architects and developers, with an average salary of just under £48,000, significantly above the Welsh average.
Economy Minister Ken Skates said: “The Welsh Government is a proud supporter of the fintech sector. The Link Financial Group is one of the biggest operators in the credit management sector and we are happy to be helping LDMS to market this innovative new software to a huge variety of financial institutions, while creating 80 jobs for highly skilled professionals in the process.
Roles being recruited for include software architects and developers, with an average salary of just under £48,000, significantly above the Welsh average.
LDMS is part of the Link Financial Group, one of Europe’s most trusted servicers of consumer and business loans, which has created software applications for financial institutions such as banks to manage credit debt and loans more effectively.
The managing director of LDMS, Chris Whitcombe,said: “We are delighted to be opening our Head Quarters in the centre of Cardiff. It’s very well located for both our clients and staff and the office environment is ideal for our growing technical team.
Working with the Welsh Government, we will be growing our headcount by another 80 people over the coming years, this will allow us to further invest in developing our industry leading product suite and better support the needs of our growing global customer base.”
Roles being recruited for include software architects and developers, with an average salary of just under £48,000, significantly above the Welsh average.
The news comes after a report released on Tuesday showed that almost three-quarters (71%) of UK retailers would like their businesses to further expand internationally, however most (57%) believe overseas expansion is fraught with risk. This trend could necessitate the need for further governmental efforts.
Gary Rohloff, Co-Founder and MD of Laybuy said: “The introduction of legislation designed to crack down on anti-money laundering, terrorist financing and other illicit activity, although all extremely important, now means that even a basic task like opening a bank account in another market, for example, can be a very arduous process.
“Technology partners are a retailer’s best friend when it comes to global expansion. The right solution can now do much of the legwork. Meaning that challenges like managing currency exchange rates no longer need to be a reason to suppress the global aspirations of UK retail.”
