WIREDGOV

The Welsh Government’s strategy to develop one the largest financial and professional services sectors outside of London received a welcome boost yesterday when Equinti, one of the UK’s leading technology, investment, pensions and payment companies, opened its brand new FinTech Innovation Centre.

Located in Cardiff’s newly developed ‘Capital Quarter’ within Central Cardiff Enterprise Zone, the centre was officially opened by Edwina Hart, Minister for Economy, Science and Transport, and will serve as an exciting hub from which Equiniti will continue to develop its core offering of innovative FinTech solutions.

Equiniti’s technology keep things running smoothly for some of the best-known brands and public sector organisations in the UK, with services benefiting more than 30 million people in the UK and 180 countries around the world.

The firm is one the UK’s leading share registrars; working with more than 50% of the FTSE 100. The Group also processes £90billion of payments per year and manages pension administration services for more than eight million people.

Uniquely, Equiniti owns all of the technology required to run its core operations, which gives it the flexibility, robustness and control of ownership required to quickly respond to change, and used the launch of the FinTech Innovation Centre to showcase a number of new initiatives.

Commenting at the opening Edwina Hart stated:

“We are delighted that Equiniti has decided to build the core of its innovation activities in Cardiff and warmly welcome this strategically important investment in one of our key sectors. We are both committed to commercial and educational technology development, making this the ideal place for the businesses to grow. We look forward to supporting Equiniti as it continues to build a world-class financial technology business in Cardiff.”

Equiniti Chief Executive Guy Wakeley said:

“We believe that Cardiff offers compelling opportunities to develop ground-breaking technology products and systems for our clients, providing a strategic centre to complement London’s well-established position as a technology hub,” he said.

“With Cardiff University also announcing a £300m investment in four research centres, it has become clear that Cardiff is now a city of choice for companies looking to expand or relocate. This is further underpinned by the Welsh Government’s commitment to develop one of the largest financial and professional services sectors outside of London.”

Equiniti already has a strong legacy of supporting the Welsh economy and as a local employer. The newly rebranded Xanite, formerly peterevans, which has been based in Cardiff for the past 30 years and Equinti Hazell Carr - the outsourcing arm of Equiniti – which has had a Welsh presence for over 15 years, will now operate from the new centre.