By combining its high calibre talent and strong work ethic with its supportive eco-system for business, Northern Ireland service centres are enabling firms to optimise their service quality, productivity and operating efficiency.
Belfast is the number one destination globally for financial technology R&D investments.
Northern Ireland is among the most cost-effective locations in the western world, with cost analysis showing that operating costs in Belfast are over 50% lower than London and 30% below Dublin.
Northern Ireland is an ideal near shore centre for activities within the financial services sector including financial services software development, infrastructure support, fund administration, operations (reconciliation, settlement, clearing etc), analytics and risk management. Northern Ireland offers a high quality, cost competitive location for financial services firms enabling them to enhance operating efficiency while also de-risking from high cost centres such as London and New York.
Solutions delivered from Northern Ireland include fund administration, investment operations, legal services, compliance, financial software development, infrastructure support, risk management, analytics, actuarial services and cyber security.
The financial industry employs 33,000 people, around one third of whom are employed by major international financial services companies with centres in the region. Examples include Citi, The Allstate Corporation, Liberty Mutual, Lloyds, Santander, Axa, Mercer, Heritage Group and Augentius.
The financial services technology sector is especially strong with specialist software development centres established by Citi, CME Group, Cayan, First Derivatives, Fidessa, Tullet Prebon and others to service high profile financial services firms in global centres worldwide. A number of technology and professional services firms that offer solutions to the sector also operate support centres in Northern Ireland. These include Allen & Overy, Herbert Smith Freehills, Axiom Law, PwC, Deloitte, Kofax, Concentrix, EY, and Capita.