Starling Bank has opened a third UK office, creating 400 jobs.
The digital bank will grow its data science, fraud and customer service teams at the new 14,000 sq. ft. office in Brunel House, Cardiff.
More jobs will follow in the second half of 2020.
Starling now has 1.3 million accounts.
Welsh native Anne Boden, CEO and founder of Starling Bank said: “The Welsh tech sector is one of the fastest digital economies outside of London, and continues to grow. Cardiff is also a bright, dynamic and entrepreneurial city with a supportive ecosystem which we are looking to tap into as we continue to grow our business and personal accounts.
“We believe that London’s success as a fintech hub should enable it to spread wealth and jobs throughout the UK and the wider economy. That’s exactly what we’re doing with this office in Cardiff.”
Since Starling launched in 2014, it has built up a workforce of over 800 employees in London and Southampton and has twice won Best British Bank in the British Bank Awards.
Ken Skates, Economy, Transport and North Wales Minister said: “I am absolutely delighted to welcome Starling Bank to Wales. Our thriving FinTech ecosystem has seen a number of companies make the move to Wales following Welsh Government advice and support, and it’s fantastic Starling has decided to do the same, creating 400 new jobs with more to come.
“As a government, we can be rightly proud of our role in growing the financial and related professional services sector in what is a very competitive global business environment.”
Around 45,000 people are employed within the digital economy in Wales with main hubs focused in Cardiff, Newport, Swansea and Wrexham. Universities across the country also support the sector by producing around 7,500 computer science and engineering graduates each year.
Starling has made a strong start to 2020 as it confirmed last month that it has raised a further £60 million from its existing investors, Merian Global Investors and JTC. The bank has also confirmed that it will award shares to all employees, allowing everyone in the company to share directly in its success.