Indian financial technology firm Polaris Software Lab is setting up a software development centre in Belfast which will employ 160 staff and provide near-shore IT services to banks in Europe.
The project is being supported by regional economic development agency Invest Northern Ireland which is contributing £1.5 million towards the investment.
The centre will initally be used for software testing and certification. Polaris says as the operation develops software development activities will be introduced. Eventually the facility willl be used to provide round-the-clock technical support for banking customers in Europe.
Around 160 staff are expected to be employed at the facility over the next three years.
Commenting on the new centre, Bikash Mathur, EVP and business head, Polaris Europe, says: "Belfast proves to be an ideal choice as, in addition to location advantage and significant cost benefit, it will serve as a near-shore centre and first choice of destination, for meeting the exacting requirements of European banks."