| Grants of up to 80 p.c. for financial companies in North |
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Grants for research & development of up to 80 per cent are being offered by InvestNI to encourage financial services companies to set up, invest and expand in Northern Ireland as they aim to build on the North’s reputation as a centre for financial technology.
One beneficiary of INI’s grants is NYSE Technologies, which are receiving support of �9.6 million from InvestNI. The company are expanding its Belfast workforce to 400 people and moving to larger offices. Duncan Niederauer, chief executive officer of NYSE Euronext, said: ‘Northern Ireland will become increasingly important to our global growth strategy and complement our technology centers in Paris and London.’
Northern Ireland has created this niche for itself in financial technology and is now considered a leader in the sector. There are 3000 people employed in financial technology in Northern Ireland in companies such as Allstate Corporation, Liberty Mutual, Citi, as well as NYSE Technologies.
Speaking with Finance Dublin, Jenny Young, director at Invest NI, said that Northern Ireland is looking to further expand its financial technology sector as they regard it as a growth area that provides high quality jobs and builds on the large pool of IT skills in Northern Ireland.
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