Wales is quickly becoming an important region with Welsh tech businesses on the rise, new tech hubs, tech events and entrepreneurs emerging across the region. According to law firm Nockolds, the total number of tech businesses in Wales grew from 3,000 in 2014 to 3,275 in 2016, representing a 9.2% increase whereas London only experienced a 11.6% rise in comparison.
Backbase, together with the Welsh Government are contributing to this growth and helping to strengthen the technology community, support the region's economy and local employment, as well as attract new talent to the area. Backbase has plans to further grow this new office with expectations to double the number of employees by the end of the year.
Cardiff has thriving tech clusters of innovative businesses and is set to further grow as businesses look towards more affordable space and access to a pool of local tech talents, graduating in specialisms such as app & software development, cyber security and social networks. It was an obvious fit for Backbase in selecting Cardiff for its new R&D office which is located in the Atlantic Wharf area.
Backbase has offices in Europe, the US and Asia and is the market leader in omni-channel banking software having worked with 80 large financials around the world to streamline their digital self-service and online sales operations across all digital touchpoints. Their customer base includes the likes of Metro Bank, Barclays, CheBanca!, Hiscox, ING, KeyBank, Societe Generale and Westpac.
First Minister Carwyn Jones said: "Welcoming a business headquartered in Amsterdam to our capital city is a vote of confidence in the Welsh economy and shows that, despite the uncertainty caused by Brexit, Wales is a great place to invest and do business.
"I was pleased to hear Backbase, which serves to some of the largest financials across the globe, chose to invest in Cardiff because of the region's strong technical skill set. Cardiff was recently ranked in the top ten for growth and retention in the Global Competitiveness Index for Talent and Technology - and this investment, which will create a further 24 well paid, high quality jobs, will only add to our growing reputation as a leader in the field."
Chris Whitcombe, VP Software Design at Backbase comments, "We are delighted to be joining the flourishing tech community in Cardiff. The region is showing great potential and has experienced fast growth in the last two years. We look forward to discovering its local treasures as well as its local tech talents."
An official ceremony will take place in Cardiff on the 23 March at The Bonded Warehouse, Atlantic Wharf.
Backbase is a fast growing fintech software provider that empowers financial institutions to accelerate their digital transformation and effectively compete in a digital-first world.
We are the creators of the Backbase Omni-Channel Banking Platform, a state-of-the-art digital banking software solution that unifies data and functionality from traditional core systems and new fintech players into a seamless digital customer experience. We give financials the speed and flexibility to create and manage seamless customer experiences across any device, and deliver measurable business results. We believe that superior digital experiences are essential to stay relevant, and our software enables financials to rapidly grow their digital business.
Backbase was founded in 2003, is privately funded, with headquarters in Amsterdam (HQ Global) and Atlanta (HQ Americas) and regional operations in London, Cardiff and Singapore.