Silicon Valley market leader Signifyd invests in Belfast
25 Feb 2019
Signifyd, the market leader in guaranteed fraud protection, today announced its first ever investment in Northern Ireland with a 150-person global R&D centre in Belfast.
The centre will broaden the company’s European presence and support its global drive to provide innovative e-commerce technology and services for retailers.
Signifyd’s European expansion puts the company in an ideal position to serve its global markets and tackle the variety of fraud challenges that different regions of the world present. The centre will house a team of top engineers driving Signifyd innovation globally, while supporting teams around the world.
Alastair Hamilton, CEO of Invest Northern Ireland, said: “The addition of Signifyd to the payment technology sector in Northern Ireland is very welcome. This investment will contribute nearly £5m in annual salaries to the local economy and add a diverse range of roles, enriching the skills base in Northern Ireland and enhancing the region’s reputation and technology capability.
“The centre will employ 151 staff to be recruited over a three- to five-year period, with roles in software engineering, data, risk and fraud analytics, along with customer success positions.”
Belfast Lord Mayor, Councillor Deirdre Hargey added: “We're delighted to welcome Signifyd to Belfast and I feel confident that they’ll find all the ingredients for success here.
Our city’s knowledge economy is deemed the second fastest growing in the UK, our people have incredible talent and tenacity and we have two world class universities and Belfast Metropolitan College which is leading the way in FE college innovation. Our Foreign Direct Investment Strategy ranks number two in the world – and according to the latest FdI Global Cities report, we’re the number one business friendly city.
Investment from Signifyd and Invest NI is helping to deliver on the ambitions that we’ve outlined in our first Community Plan, The Belfast Agenda – and it’s helping to create exciting opportunities for our citizens to realise their professional potential. We wish Signifyd and their employees every success.”
Invest NI has offered the company £981,500 of support to recruit and onboard a range of technical and professional positions that attract an average salary of more than £30k.
The company’s technology leverages big data, machine learning and expert manual review to provide a 100 percent financial guarantee against fraud on approved orders. The result is a friction-free buying experience that effectively shifts the liability for fraud away from e-commerce merchants, allowing them to increase sales and open new markets while reducing risk.
“As we studied different locations to expand our engineering footprint, Belfast stood out for its talent pool and its proximity to some of our key markets in Europe,” said Signifyd Co-Founder and CEO Raj Ramanand. “We’d also like to thank Invest NI for the assistance they provided during this initial assessment.
“We are based right here in Belfast’s Cathedral Quarter and look forward to building a world class team to lead our innovation and help our customers provide the kind of shopping experiences today’s consumers expect.”
Trevor McCullough, who has led innovation in Belfast for companies including NaviNet, NANTHEALTH and Servasport, will head the R&D center as Director of Engineering.
“This is the kind of opportunity that those passionate about technology live for,” McCullough said. “We’ll be rapidly building a team from the ground up, which in the end, will make the business lives of thousands of customers better. The chance to be a part of a team like that doesn’t come along all that often.”