A fintech firm owned by Newcastle Building Society is creating 80 new jobs in the North East as part of the first phase of its “tech talent” investment drive.
Newcastle Strategic Solutions creates savings platforms for other banks and firms in the financial sector and has now begun a major recruitment drive to boost its tech teams.
The 80 new roles will be added to the firm’s 600-strong workforce, which is spread across two offices in Cobalt Park and Newcastle city centre.
The majority of the new positions will be tech focused and will support complex projects, such as launching new banks and developing new services for existing clients.
Other roles will also be created in customers services, client services, business transformation and financial crime teams.
Solutions managing director Phil Grand said: “This is a major moment in our history and development. Proudly based in the North East, our work has earned us an enviable reputation in the market as the best at what we do. We’re at a significant point where we need more talented people to join our amazing team and play a key part in delivering the next chapter in the success story of our Solutions business.
“Newcastle Strategic Solutions offers an exciting, friendly and fast-paced workplace, with great opportunities for self-development. A place where colleagues can realise their potential and do their best work in an exhilarating, leading edge environment, whilst also contributing to making the North East a vibrant and thriving place to live and work.”
Newcastle Strategic Solutions was set up in 2004 by Newcastle Building Society to provide services for other banks.
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Its recruitment drive will create 80 jobs initially but plans to continue to recruit throughout 2020.
The company creates savings platforms for financial services, including insurance providers and challenger banks. Its client list includes specialist bank Aldermore - which provides financial services to SMEs. The bank used the North East tech firm to launch itself into the retail savings markets, creating a range of products such as fixed rate, easy access and cash ISAs.
The job creation programme comes after Newcastle Building Society itself said it had created 40 new jobs in the first half of the year, which it expected to top 100 by the end of 2019.
Half-year results for the society showed operating profit before impairment and provisions increasing by 18% to £8.5m, while net core residential lending for the first half of year was £220m, which exceeded its 2018 full-year equivalent by £60m.