Clearing bank the Bank of London has opened a new FinTech base at the Soloist Building in Belfast.
In Brief:
It plans to create 232 jobs in Northern Ireland.
50 people have already been recruited to “deliver innovation at the heart of financial services”.
The business has worked with Invest NI to locate its first UK office in Belfast.
What does this mean?
The Bank of London is the sixth principal clearing bank in the UK, meaning it can settle transactions between banks, and it aims to create the “borderless infrastructure of the future”. The organisation calls Belfast the “UK’s gateway city to the EU” and says it has also chosen to set up shop in Northern Ireland due to the talent available there.
